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Biotech / Medical : Pharmacyclics (PCYC) -- Ignore unavailable to you. Want to Upgrade?

To: Harold Engstrom who wrote (390)	12/4/1998 11:59:00 AM
From: Biomaven	Read Replies (1) \| Respond to of 717

Harold, I have no explanation for the stock's price behavior. If (and it's certainly still an "if") either Gd-Tex or the roto-rooter application hit, this stock would be a 5 bagger or more from here. It's important to remember that the company has retained all its rights to these two products. It also has some other irons in the fire (Lu-Tex for cancer and for opthalmology applications), but these are likely not the big drivers of its long-term value. Seems to me to have an excellent risk/reward ratio, particularly given it has plenty of cash. Unless there's something going on we don't know about, I think it's very good value here. I don't believe there's any chance of profitability next year. One problem has been overly aggressive near-term estimates by analysts, which are slowly coming back to reality. I'd be interested in your view if you look at it more closely. (Their web site at www.pcyc.com has some good stuff) I added to my holding when it was around 14, and I'd be a buyer here if I didn't already have a fairly substantial (for me) position. Peter