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Biotech / Medical : GelTex Pharmaceuticals (GELX) -- Ignore unavailable to you. Want to Upgrade?

To: Robert L. Ray who wrote (56)	7/27/1998 7:29:00 PM
From: Robert L. Ray	Read Replies (1) \| Respond to of 127

Well here I am talking to myself:) I started to do one of those rah, rah, type of posts a few days ago when GELX made it to 24 or so but I didn't want to jinx things. Well it went down without me so today I reasssessed things.... tried in vain to find reasons not to buy more... came up blank for any reasons not to buy more.... and then doubled my position. Managed to get it at 20 so at least in the short run I made a good call for a change. My new cost basis is about 21 5/8 so I'm close to break even. I never expected it to get back down to 20 on zippo-squat negative news but such is the nature of biotech investing I suppose. Everything appears to be ontrack and this has to be about the most overlooked/undervalued biotech bargain out there.U.S. Renagel looks like it'll be approved around about November. Renagel is also pending approval in Europe and Canada. And the more I've read about Cholestagel the better it sounds. I suppose GELX will wind up partnering with somebody to market Cholestagel but Sheese I sure do hope they get a better deal than they did going 50/50 with GENZ on Renagel. Cholestagel I feel has quite a bit more market potential than Renagel. And given the effectivness it's shown and the minimal or maybe even 0 side effects it also looks to be a shoo-in for approval. Hmmmm.... almost sorta hate to type something like that at this stage because the FDA has fooled me before but I really can't see any reason why it wouldn't be approved. Drugs which aren't absorbed into the bloodstream tend to have few side effects. I suppose about the only possible side effects would tend to be things pertaining to vitaman/nutrient absorbsion but I've not read anything so far which suggests that. I keep waiting on the results of the large phase 3 clinical on Cholestagel which started around the first of the year and was to have run 6 months. They have already started a smaller phase 3 that runs 6 weeks so my guess is that they have already finished the first Phase 3. So far no word yet though. I guess they are tabulating up the results. Well gee. I guess I havn't contributed much that anyone doesn't already know from reading press releases, (as someone once said; "all I know is what I read") but I thought since it's a pretty dead board I'd post something.