James, I totally agree with you on ENMD, that it will see the teens before too long. V1, and myself to a lesser extent, worry somewhat that ENMD could get another hype boost from their annual meeting Thursday, thus we want to cover before any run up that could occur from that. This stock is being followed now by so many amateurs waiting for, hoping for, and actually expecting, lightning to strike again, that these guys could very well drive another idiots rally of market orders by naive people who have had personal interactions with cancer and who are clueless regarding the biotech sector. Actually, I really hope for a hype run up from the meeting, as I'll be shorting them again if it happens, and probably even if it doesn't happen once the meeting is out of the way. My guess is that they won't have much new worthy coming out of the meeting, except reporters damn convinced to make a story out of it because they are there to cover it. Keep in mind that the run up from $12 to $85 was not driven by new news, but by old news which was finally covered front page in a major newspaper. The cover of nature months earlier didn't exactly draw mainstream attention. Thus, just the coverage by the media could drive this stock again. If they do have any new news, what better place to air it than at the annual meeting. The way I figure it, after the meeting you can figure on a nice block of newsless time, as if they had it, they would flaunt it for the crowd. Thus, I do see a trader mentality on this one. If they want to leave money lying around, we'll pick it up - we're not too proud.
Anyone on the thread in the Rockville, MD area who could attend the meeting and let us know what is up??? THAT INCLUDES YOU LURKERS OUT THERE, TIME FOR SOME OF YOU TO CONTRIBUTE!!!
MEETING DETAILS:
<<<<<<<<<<<<
ENTREMED, INC.
NOTICE OF ANNUAL MEETING OF STOCKHOLDERS
TO BE HELD JUNE 25, 1998
To the Stockholders:
Notice is hereby given that the Annual Meeting of the Stockholders of
EntreMed, Inc. (the "Company") will be held on June 25, 1998 at 10:00 a.m. local
time at the Gaithersburg Hilton, 620 Perry Parkway, Gaithersburg, Maryland
20877. The Annual Meeting is called for the following purposes:
1. To elect to the board three directors;
2. To approve an amendment to the Amended and Restated Certificate of
Incorporation of_á the Company to increase the number of shares of the
Company's Common Stock, par value $.01 per share, authorized for issuance
by the Company from 20 million to 35 million;
3. To approve and ratify an amendment to the Company's Amended and
Restated 1996 Stock Option Plan, increasing from 1,266,667 to 1,750,000 the
number of shares of Common Stock reserved for issuance;
4. To approve and ratify the appointment of Ernst & Young LLP as the
independent auditors of the Company; and
5. To consider and take action upon such other matters as may properly
come before the meeting or any adjournment thereof.
The close of business on May 20, 1998 has been fixed as the record date for
the determination of stockholders entitled to notice of, and to vote at, the
Annual Meeting.
All stockholders are cordially invited to attend the Annual Meeting.
Whether or not you expect to attend, you are respectfully requested by the Board
of Directors to sign, date and return the enclosed proxy promptly. Stockholders
who execute proxies retain the right to revoke them at any time prior to the
voting thereof. A return envelope which requires no postage if mailed in the
United States is enclosed for your convenience.
By Order of the Board of Directors,
John W. Holaday, Ph.D.
Chairman, President and Chief
Executive Officer
Dated: May 22, 1998
ENTREMED, INC.
9610 MEDICAL CENTER DRIVE, SUITE 200
ROCKVILLE, MARYLAND 20850
(301) 217-9858
>>>>>>>>>>>
WOW, an increase from 20M to 35M shares, I smell either a secondary or a stock split coming. My guess is a secondary, these guys ain't dumb, they know how to take advantage of an overvaluation: raise cash.
Rman |
