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Biotech / Medical : Cistron Biotechnology(CIST)$.30 -- Ignore unavailable to you. Want to Upgrade?

To: Walter Morton who wrote (2130)	5/6/1999 6:16:00 PM
From: John Metcalf	Read Replies (2) \| Respond to of 2742

Walter, the Board of Directors accepted the resignations of Bruce Galton and Thomas Carney. They appointed Isidore Edelman and Jonathan Rothschild to the Board. Bruce Galton will continue through 5/31, but will not be chairman nor a director. Franklin Iris is the new Chairman. The statement of the Board was: "''Providing the opportunity for Cistron's directors to strategically maximize the value of the company's financial and technological assets for the optimum benefit of shareholders. The changing biotechnology landscape augers well for the attainment of that goal,'' said Robert W. Naismith, Ph.D., a Cistron director and Genome securities chairman and chief executive officer." It's interesting that the Board seeks to maximize financial assets for the benefit of shareholders, because that point of view has been represented so often in this thread. Also interesting that Robt Naismith, architect of the HMR deal, made the statement, and not Chairman Iris. Since Galton is leaving and the function of operations is not discussed, there is reason to hope that they are preparing for sale or liquidation.