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Biotech / Medical : SNAP -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (45)	1/26/1999 1:33:00 AM
From: Larry Liebman	Respond to of 124

H&Q commented that Lilly was moving the SNAP migraine molecule into Phase 3 "much faster" than anticipated, making a 2002 launch look quite "conservative". From a valuation point of view, SNAP is trading at not much more than 2x book. With $60 million in cash, there's $5+/sh in the bank. I like the risk/reward here.