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Biotech / Medical : Essential Therapeutics (ETRX) formerly Microcide (MCDE -- Ignore unavailable to you. Want to Upgrade?

To: John O'Neill who wrote (157)	9/4/1998 1:08:00 AM
From: Mark Adams	Respond to of 415

I have a half position. I decided that with biotechs I'm better off betting small on a larger number of companies, since I don't know which will produce results. This meant taking positions in competitors to MCDE, ie CBST, which is now trading at a 50% discount to my initial purchase. Please don't run it up, I'd like to add a few shares first. <g>

To: John O'Neill who wrote (157)	9/4/1998 7:06:00 PM
From: WTDEC	Respond to of 415

Hello JO. I'm still here waiting for $9 to look like it was a good buy. MCDE has plenty of cash so there should be no need for them to do any new issuance at these crummy levels. Maybe they will take a cue from GLFD and buy some shares back with all the cash they have. In any case, I have a nice cash inflow due soon and hope to buy more. Maybe I'll get it at less than the cash value per share...$3.20 per share .... if this market mania continues. Roughly 80 cents per share for the technology and R&D developments here is the bargain of a lifetime and there are numerous such bargains in biotechland today! Meanwhile, the business is right on target as you indicate. Hope all is well with you. Best regards, Walter

To: John O'Neill who wrote (157)	9/4/1998 10:43:00 PM
From: jackie	Read Replies (1) \| Respond to of 415

John, I like this company. It is in a very strategic investing theme, dealing with antibiotic resistant bacteria. The general public is only gradually becoming aware of the dangers growing all around us. Doctors have been aware of this problem for some time, but that has not filtered down yet. In addition, the management knows how to husband its resources. These guys are getting other people to pay for their research. I like that. With the pummeling biotech has taken for sometime, this has to be attractive for the speculative investor. I think we will see a turn around in the biotech arena as some of the drugs coming onto market begin to make cash flow impacts on the companies owning them. It is show me time for biotech and I think they are getting ready to do just that. Regards, Jack Simmons