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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Mel Kaplan who wrote (5559)	9/1/1998 5:06:00 PM
From: Vector1	Read Replies (2) \| Respond to of 9719

Mel, It is highly unusual for the FDA to require an additonal trial at this point. The facility in question is a fill and finish facility. Based on the press release the FDA has suggested the need for an additional trial and given my experience talking them out of it is a long shot. They loose a year, burn through about $40m of additional cash and require a greater discount of future earnings based on the ineptitude of management. I think the stock is fairly valued at $14. V1