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Biotech / Medical : CYPB - Cypress BioScience -- Ignore unavailable to you. Want to Upgrade?

To: Jay Lowe who wrote (267)6/2/1998 8:04:00 PM
From: muddphudd  Read Replies (3) | Respond to of 586
 
Jay,

I spoke with a friend in London today. he got the following from someone following CYPB. Does this 'worry us'?:

"this company is in the process of a "private placement" liquidation,
which means an off-shore account (like us) gives the company money and
the fund gets private shares, which the public does not see. After a
restricted time period, the fund is allowed to sell shares and dilutes
the company tremendously.

for example,
a company has 10 shares outstanding, but issues 5 shares to an offshore
account
when the fund sells the shares, it increases the share count to 15,
diluting the shares tremendously.

there is tremendous "overhang" in this stock, with probably a million
shares left to sell. Unless something tremendous happens to the
fundamentals (i.e. FDA approval of a drug), this stock will have trouble
moving up."

Regards.



To: Jay Lowe who wrote (267)6/3/1998 12:22:00 AM
From: Jay Lowe  Read Replies (1) | Respond to of 586
 
I suspect a connection between the reverse merger business
and the private investor holdings.

I suspect a shift of money from privates to the funds is
being engineered to lock in profits for the privates, i.e.,
open CYPB to the funds and retail brokerages would create
demand which the large private could fulfill. This may be
a commonsense hedge move driven by the votes of the privates.

I, for one, would welcome such a transition if the company
remains on track.


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