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

To: Dauntless who wrote (4728)	7/10/1998 7:15:00 PM
From: Bill Wexler	Read Replies (1) \| Respond to of 7041

Time to revisit the Zonagen fraud. I still haven't covered a single share of Zonagen. (I have shorted the stock as far down as the low teens and as far up as the high 30's). Zonagen continues its obnoxious campaign of misinformation. Every time a shred of truth manages to surface (however briefly), Zonagen management and its paid promoters begin a new campaign of fraud and deceit. Zonagen's current pack of lies involve its "success" in the Mexican market. The truth is that this ineffective, scam medication can not even be given away in Mexican pharmacies. The demand is for Viagra. Zonagen is also attempting to use recent reports of adverse side-effects for Viagra to imply that Vasomax is safer - and thereby infering that Vasomax is also effective. Both claims are outright lies. Vasomax is Phentolamine. Phentolamine is neither safe nor effective for the treatment of ED. Zonagen's own data, presented at the last AUA demonstrated that Vasomax had no significant improvement over placebo. Zonagen has no patent protection for Vasomax. Phentolamine is an ancient generic drug and oral Phentolamine can be manufactured by anyone. Zonagen has attempted to mislead investors by buying some worthless patents that supposedly protect Vasomax's "fast-acting" formulation. The patent only covers a variation of inert ingredients and a disintegrant. Zonagen shills also point to the company's relationship with Schering-Plough as some sort of validation of their claims. Many biotechs and development-stage firms have agreements with large pharms. - many for a lot more money that Zonagen is receiving. This does not mean the drug in development is any good. Zonagen has repeatedly misled investors about filing a new drug application. Schering-Plough - in a desperate attempt to prop up its sinking investment - recently announced an "accelerated" milestone payment...perhaps trying to nudge Zonagen to speed up its work on the NDA filing, and (most likelY) trying to save face. Zonagen is the subject of numerous lawsuits, including former employess , that allege fraud. Zonagen was already caught red-handed when they attempted to file a patent for Immumax - a compound originally patented by another firm and known as Chitosan. I strongly urge small investors who are considering taking a flyer on this fraud to see what happened to the shareholders of CCSI. CCSI used a similar misinformation campaign to entice small investors to buy shares from insiders. Zonagen is a fraud and a scam and will eventually trade in the low single digits.