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

To: Izzy who wrote (4774)	7/7/1998 12:33:00 AM
From: billkirn	Read Replies (1) \| Respond to of 6136

OK: I am also mad as hell at Agouron's lack of communicating coherent considerations and explanations of their business decisions and outlook. Now: We are in a very negative sentiment cycle, and it will complete itself at a point when all the negative news is exhausted. I have been at this point many times. Once reached, the whole picture will change dramatically. I am not sure we have exhausted the negative mass yet but we are getting pretty close. When this happens, and it will, you will wonder what everyone was worried and thinking about. So I strongly suggest you hold on for the the next 6 months, even riding it into the upper teens. I know it is really hard to do this without feeling panic, but look carefully at the past and the tough decisions these people have had to make and how many of these decisions have been sound. I know we have the odds with us, and I know we have some of the most intelligent people making extremely difficult business decisions. The only real fault I can find, is the lack of good communications of the decision process. This really needs work. Peter needs to place a priority on communicating, and he needs better help. Let's have a party in 18 months and tell each other how truly smart we were to look long term. Cheers! Bill

To: Izzy who wrote (4774)	7/7/1998 1:43:00 AM
From: Steve Fancy	Read Replies (1) \| Respond to of 6136

Izzy, I don't mean to raise your blood pressure. I'm an options person at heart, who just happens to have some AGPH stock still hanging around from the old days. By my nature, I look for explanations for all stock movements. The DW-MS report read as if they received guidance from AGPH on the timing of up front licensing fees. If this is the case, AGPH owes us the same courtesy by law. I'll try writing them. FWIW they maintained an "Outperform", not a buy. I believe they were downgraded from buy several months ago, but could be wrong....regardless, the current rating was maintained. I agree with Bill that at some point the bad news (or perception of) should be washed out. I really think we're seeing some downward pressure from AGPH bears also, hopefully looking to finally cover their short positions. I'll post any response I receive from AGPH. sf

To: Izzy who wrote (4774)	7/7/1998 10:41:00 AM
From: Bhag Karamchandani	Read Replies (1) \| Respond to of 6136

Izzy: I am sorry, if the issues I raise are disconcerting. If and when I take a position in AGPH ( my resources are very limited) I will let you know.I have said that AGPH was undervalued at $35. However,my actions will not be based on price alone. But rather on favorable PIII trial results, at the very least. At one point Karen Firestone (?) who manages Fidelity Biotech Fund considered AGPH as having the technology platform and a promising pipeline to produce one or may be two drugs each year or two. The question to ask AGPH management is: what happened to all this promise. Instead, all AGPH has done is to announce strategic moves - in the short run they have not helped AGPH shareholders.That does not mean they are not the right ones to make. Having said all this, not even for a moment, do I seriously believe that what I say (or for that matter others say )on this thread has any impact on the final scheme of things. I do sincerely wish you all good luck.