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Biotech / Medical : Zonagen (zona) - good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Linda Kaplan who wrote (4541)	6/11/1998 11:13:00 AM
From: Tradegod	Read Replies (1) \| Respond to of 7041

Short term trading thoughts: Stock started to break today on reports that the NDA would be delayed. Clever timing of press release placed milestone payment ahead of July filing announcement. Stock did not retreat after July date was announced. In fact it ran up and held in 26 1/2 range. One could make the argument that while SGP has a lot of money, I don't think they would throw 5 million more into a product that is suspect. While it may not be a Viagra, it must hold some potential in their eyes. Therefore, it appears that the bad news has played out, and with the large short position, there may be some covering as well as some ruthless long traders trying to squeeze them. Bear in mind that today is a very weak market. Zona is bucking the trend.