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Biotech / Medical : Neurogen (NRGN) -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (204)	2/3/1999 1:43:00 AM
From: Volcano888	Respond to of 523

Any news or views to share on the obesity drug trials? Right or wrong, that is what attracted many small investors to NRGN in the first place, and it's been a long wait. Thanks.

To: scaram(o)uche who wrote (204)	2/3/1999 11:05:00 AM
From: NeuroInvestment	Respond to of 523

Rick: Actually, in looking again at the R&D platform valuations for various companies in the neuro sector (taking out the cash), I think that you are correct, and my statement was off-base. If small biotech/biopharm companies were more fairly valued in general, the R&D platform value of NRGN as of the close would be $100 million--and certainly there is the potential (as yet unrealized) for one of their programs to succeed and justify that valuation. It is excessive when one looks at how the market has excessively undervalued some other companies--like Neurocrine Biosciences, whose expertise in the CRF area matches NRGN's in the GABA area, has one program in PH III and two in PhII--and yet has a platform valuation of under $60 million. My point is that NRGN has actually been treated relatively gently by the market given its track record of the past two years, compared to some of its brethren.It is not that NRGN should be lower than it is, but that others deserve to be higher. NeuroInvestment (www.neuroinvestment.com)