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Biotech / Medical : La Jolla Pharmaceutical (LJPC) -- Ignore unavailable to you. Want to Upgrade?

To: Harold Engstrom who wrote (47)	4/6/1999 11:29:00 AM
From: Merritt	Respond to of 66

Harold: Just that it's pretty much a one-trick-pony...and it's targeted at what is a supposition of what's causing a damaging effect, not the origin of the problem. Everything may work out well, Abbott seems to believe it will. I hope they're right as I own a little, but IMHO (FWIW) it's worth some risk capital, but not the farm. Does anyone know the particulars/meaning of the recent Pre 14-A filing? TIA

To: Harold Engstrom who wrote (47)	4/11/1999 9:44:00 AM
From: AJAG	Read Replies (1) \| Respond to of 66

Based upon my research, this company has the potential for 5 or 10 to one or higher returns over a couple year period. The downside risk is probably half your investment at these prices, and, unless you are buying on margin, you can't lose more than 100 percent of your investment. Statistically, I would think that about half to two-thirds of phase 3 drugs backed by a big company like Abbott make it to market. I really like the odds here. I would not bet everything on this company, however. Other beaten up biotechs that are very attractive at these prices include Supergen (SUPG) which has a pancreatic cancer drug in Phase 3 and great management plus equity capital from Larry Ellison of Oracle, and the two Genzyme partial spin-offs, GZMO (has rights to one of Folkman's cancer drugs) and GZTC (has a drug in Phase 3 and great technology, using genetically modified goats to produce difficult to manufacture biotech drugs in their milk)