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Biotech / Medical : VICL (Vical Labs) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Roof who wrote (967)	1/27/1999 6:01:00 PM
From: Scott H. Davis	Read Replies (2) \| Respond to of 1972

Remember its a 2 year target, based on the expectation (I assume) that they've completed trials on a couple things and gotten and FDA approval, or appear very likely to get one. Development stage biotechs just don't fetch that kinda valuation. We're the gutsy ones, more money will come in as the perceived risk decreases. I think Lehman Bros target this year was $24. BA Robertson Stephens was also around there I believe. IMSCO Scott