Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Vector1 who wrote (5042)	6/1/1998 1:32:00 PM
From: Rocketman	Respond to of 9719

Never got the email, but I wouldn't have taken the opening price on a market order though, no way, been burned too many times on that bone headed move. If we couldn't get a decent afterhours price, I was ready to ride through the opening price and cover manually when we saw fit. When I popped it up and it was down over a buck, I saw fit, and put in the post on SI. I agree with you that we don't take closing prices when there has been news after the close, and the Rathman appearance definitely fit that bill for me. Had a nice weekend up here for a change, weather was great! Maybe the monsoon season won't last until fall afterall. Saw Reggae star Bunny Wailer at a small club in Santa Cruz Saturday night. Great reggae, the whole place dancing, fantastic looking women (gotta love a college town, but Santa Cruz women go a step farther, phewwwww - no one would need Viagra after (while?) being in a crowd like that), excellent beer and good friends. It was lots of fun. Rman

To: Vector1 who wrote (5042)	6/10/1998 12:08:00 AM
From: lwd	Read Replies (1) \| Respond to of 9719

V1: Does the following press release from GENZL change your view of the stock or company? Does this type of internal financing improve the scenario? Thanks, Lisa Tuesday June 9, 6:11 pm Eastern Time Company Press Release SOURCE: Genzyme Corporation Genzyme Tissue Repair Announces Long-Term Financing from Genzyme Corporation CAMBRIDGE, Mass., June 9 /PRNewswire/ -- Genzyme Tissue Repair (Nasdaq: GENZL - news) announced today that Genzyme Corporation has established a long-term financing plan to provide up to $66 million for the continuing development of Genzyme Tissue Repair's product portfolio and research and development programs. The financing plan encompasses several elements designed to minimize long-term shareholder dilution and maximize utilization of Genzyme Tissue Repair's assets. Genzyme Tissue Repair is one of three divisions of Genzyme Corporation. Each division has its own stock intended to reflect its value and economic performance. The other two divisions are Genzyme General (Nasdaq: GENZ - news) and Genzyme Molecular Oncology, which is not yet publicly traded. As part of the long-term financing plan, Genzyme Corp.'s Board of Directors has increased the amount of the equity line of credit available from Genzyme General to Genzyme Tissue Repair from $12 million to $50 million. Under the terms of the equity line, Genzyme Tissue Repair may draw down funds as needed on a quarterly basis in exchange for designated shares of its common stock. The plan also involves the sale of its Framingham manufacturing facility to Genzyme General for its fair market value of approximately $16 million in cash. Genzyme General currently leases approximately 60 percent of this facility for manufacturing and research and development activities related to its therapeutic product pipeline. Genzyme Tissue Repair will lease back a portion of the facility now used for its Neurocell-PD(TM) and Neurocell-HD(TM) programs for the treatment of advanced Parkinson's and Huntington's diseases. Genzyme Tissue Repair has adequate Carticel(R) autologous cultured chondrocytes manufacturing capacity at its Cambridge headquarters facility to meet its needs. Genzyme Tissue Repair has decided to find a strategic partner for the development of its TGF-Beta2 program for the treatment of chronic skin ulcers. Patient accrual has been completed for the phase II clinical trial using TGF-Beta2 to treat diabetic patients with chronic skin ulcers. With the proceeds from the sale of the Framingham facility and its current cash resources, Genzyme Tissue Repair does not anticipate that it will need to draw down funds from the equity line until 1999. ''Genzyme General is making funds available to put Genzyme Tissue Repair on a solid financial footing which will allow it to make critical progress toward its business objectives while minimizing long-term dilution,'' said Henri A. Termeer, chairman, chief executive officer, and president of Genzyme Corporation. ''We believe that this is a sound investment on the part of Genzyme General, as evidenced by solid progress made in the marketing roll-out of the Carticel(R) service for articular cartilage damage and the early promise of the Neurocell-PD(TM) development program for Parkinson's disease.'' Under the terms of the expanded equity line, Genzyme Tissue Repair will draw funds down only as needed on a quarterly basis in exchange for Genzyme Tissue Repair designated shares. The rate of exchange will be determined by dividing the draw down amount by the average market value of a share of Genzyme Tissue Repair common stock during the 20 trading days prior to the date the funding is drawn down. Genzyme Tissue Repair designated shares represent authorized shares of Genzyme Tissue Repair common stock that are not issued or outstanding but that the Board of Directors may hold, sell from time to time for the benefit of Genzyme General, or distribute as a tax-free stock dividend to holders of Genzyme General common stock. If, as of May 31 of each year, the number of Genzyme Tissue Repair designated shares, excluding those reserved for issuance with respect to stock options, warrants, or other outstanding securities, exceeds 10 percent of the number of Genzyme Tissue Repair common stock issued and outstanding then substantially all of the designated shares will be either distributed as a dividend to Genzyme General shareholders of record or sold and the proceeds allocated to Genzyme General. Genzyme Corporation is a biotechnology and healthcare products company. Genzyme Tissue Repair, a division of Genzyme Corp., is a leading developer of cell therapies and biological products for the treatment of cartilage damage, severe burns, chronic skin ulcers, and neurodegenerative diseases. This press release contains forward looking statements about Genzyme Tissue Repair's cash requirements and its plans to obtain funding for its TGF-Beta2 program. Actual results may differ materially depending on many factors, including the successful implementation of Genzyme Tissue Repair's marketing strategy, reimbursement rates for products and services, revenue fluctuations, results of development and partnering efforts, and the cost and timing of clinical trials. Genzyme's releases are on the World Wide Web at genzyme.com. They are also available from Genzyme's fax-on-demand service at 1-800-436-1443 within the U.S. or 1-201-521-1080 outside the U.S. SOURCE: Genzyme Corporation