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Biotech / Medical : Pathogenesis(pgns) -- Ignore unavailable to you. Want to Upgrade?

To: John Ritter who wrote (161)	3/23/1999 8:46:00 PM
From: timroy	Read Replies (1) \| Respond to of 228

Tuesday March 23, 7:47 pm Eastern Time AFTER THE BELL - 3Com up after earnings NEW YORK, March 23 (Reuters) - Stock in 3Com Corp. (Nasdaq:COMS - news) rose in after-hours trading Tuesday on Instinet after the computer networking company reported earnings that beat Wall Street expectations. The Santa Clara, Calif.-based 3Com, which closed on Nasdaq down 5/8 at 23-5/8, was trading after hours at 24-1/4. Shortly after the market closed, 3Com said its third quarter revenues and per-share earnings were higher than the same period a year ago. Also on the move upward was Autoweb.com Inc. (Nasdaq:AWEB - news), which gained more than 150 percent Tuesday following its initial public offering. The Nasdaq issue closed up 26 at 40 and was trading after hours at 40-1/4. Shares in drug company PathoGenesis Corp. (Nasdaq:PGNS - news) were spared after hours, following a day when the stock lost nearly two-thirds of its value. The stock closed at 12-3/16 on Nasdaq, down 22-9/16, but moved up slightly to 12-1/4 in after hours. The New York Stock Exchange said after hours session one volume was 2,706,400 compared with 2,030,300 on Monday. Volume in session two was 7,599,796 compared with 4,202,551 on Monday.

To: John Ritter who wrote (161)	3/24/1999 9:31:00 AM
From: Biomaven	Read Replies (2) \| Respond to of 228

John, Is PGNS a good buy at 12? Historically, biotechs that have cratered have not done well, though there have certainly been exceptions like CNTO and MEDI. The trouble here is that they now have no credibility, and it's going to be a long, hard struggle back. The coming lawsuits won't help either. If their existing US market is indeed close on saturated (not really clear yet), a lot will depend on the results of their new trials. On the plus side, at these prices they are a clear takeover candidate; they have plenty of cash and would be clearly profitable if they weren't running new trials. I still have a very small stake left that I'm holding for now. Peter