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Biotech / Medical : Cistron Biotechnology(CIST)$.30 -- Ignore unavailable to you. Want to Upgrade?

To: Dr. John M. de Castro who wrote (1604)	11/5/1998 8:19:00 PM
From: Steve Harmon	Respond to of 2742

John de C, Where CIST is trading is not the problem here. Similiar manipulation occurs on the Nasdaq regular and small cap also. Reverse splits are a way for inept management to cover up stupid financing deals...Look at SPTA and PRCT for recent reverse splits that tanked back to under a buck after the reverse occurred. It is very obvious what has occurred in the last two years at Cistron...It is what i have dubbed over the years as BIOTECH CEO WELFARE. A stock buyback which matches what the 2 officers left at Cistron would very easily support Cistron's stock at much higher levels. Not doing one ALLOWS our shares to trade at pathetic levels. Steve

To: Dr. John M. de Castro who wrote (1604)	11/5/1998 9:25:00 PM
From: Biomaven	Read Replies (2) \| Respond to of 2742

John, I wholeheartedly agree with you here - a reverse split that would get the stock out of the BB black hole would do a lot for the share price. Unfortunately, investors naively associate reverse splits with dying companies, because they are normally the only ones that do it. Usually reverse splits don't help because the company itself is in a decline which the reverse split doesn't help. However the situation here is very different: this is a financially sound company trading way below book. I don't know what the chances of seeing any part of the $30 million from PM are; but I have to believe that PM would not shell out close on $2 million if they didn't believe there wasn't a fair shot at something useful. I also agree that a stock buyback would make a lot of sense, as long as they keep enough assets and float to qualify for a Small Cap listing (which is harder than just maintaining a listing once you have one). I'm actually considering buying some CIST at these levels, although the other thread veterans will probably think I'm crazy. Peter