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Biotech / Medical : EntreMed (ENMD) -- Ignore unavailable to you. Want to Upgrade?

To: Ron Dior who wrote (1092)	5/26/1998 11:23:00 AM
From: Nero	Read Replies (2) \| Respond to of 2135

Ron, ENMD had a market value of $12 last month. I don't understand why you would be at ease buying at that level, Ron. If the prospects of ENMD succeeding are astronomical, and we can agree that the company has no value without a marketable drug, then a share bought at $12 is as worthless as a share bought at $32. The New York Times piece that spiked ENMD wasn't new. But now the general public is more aware of ENMD's research. Putting a story on Page 1 of NYT isn't always about breaking news -- sometimes it is simply disseminating information. The positive exposure has added value to ENMD even though the only change in the company is the fast track for as/es at the NCI. Speculating on Judah Folkman's research is not the same as gambling at Vegas. Certainly it is a risk -- any investment contains risk -- but it also has the possibility of tremendous rewards. I'm comfortable with the risk/rewards of ENMD above $30, as are, I assume, most other long holders of the stock at this point. OK, so how does one value ENMD? Would I be comfortable at $85 without a fundamental change? How about a short squeeze to $100? I dunno, I'd certainly be happier and possibly take some profits, but even at $100, I don't know if I'd sell out of my position. My inclination is to ride this investment through Phase III trials. Let's wait and see. Spin the wheel. nero