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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: M. Ramle who wrote (936)	6/24/1998 7:32:00 PM
From: M. Ramle	Respond to of 10280

To Teabury22: Please note that your comments would never bother me. On the contrary, I think they have been very informative, and one can learn something new everyday from these messages. I guess the main point I am trying to question here is that if everything looks and seems to be so rosy for SEPR, then why on earth is it trading at a good 20% discount to it's own fair value. I do understand that the entire bioteck group is struggling, but believe me that all these big investment funds are no dummies, and they would have jumped on this by now. Just want to make sure that I am NOT missing anything in my expectation of SEPR !!! I would also invite you to continue to post on this Board. It is much easier to keep track of your comments. Good Luck Mazen

To: M. Ramle who wrote (936)	6/25/1998 12:46:00 AM
From: rkrw	Respond to of 10280

Ramle, Do you watch the X-Files? There is a character on the show known only as "The Smoking Man" or something like that. Rather than concocting all these paranoid delusions that something is terminally wrong that no one knows about but "The Man," how about looking logically at the long term? Levalbuterol is a purified version of an already existing drug. The trials were done properly and Sepr achieved equivalent efficacy at a quarter of the standard dose. Does that sound like the makings of a rejection? Is the filing long overdue to be decided on? No. Do they even need a predecision panel meeting? No. They have royalties on Allegra, DCL, perhaps Prozac and a great deal more. Bitching about a relative underperfomance is typical of a common investor that just can't take the standard ups and downs of a common stock. The stock is up from $3 in 1994, just 4 years back and is now up about 13-fold since. Doesn't seem like underperformance to me. Its up about 150% since 1/1/97, not too shabby. Maybe it could go up 1% every day from here until eternity and you would be happy. Perhaps the reality is that they won't be earning money for 2-3 years, so some investors are moving on. On a relative basis to biotech, Sepr has done well this year as it is actually up. Smart money that has been in the stock for a couple of years should see no reason to bail now. This is a 9 inning game and maybe they are in the bottom of the first. So stop whining.