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Biotech / Medical : Sepracor-Looks very promising -- Ignore unavailable to you. Want to Upgrade?

To: Art Vandelay AIA who wrote (2953)	5/24/1999 9:56:00 PM
From: IRWIN JAMES FRANKEL	Respond to of 10280

Art, Reading your view of Sepracor echos as if they were my words. (But better written.) While I now find my average cost significantly underwater (62 vs. 90), I am excited at the prospect of adding to my position. Patents, royalty agreements on major drugs for a company with so few shares will turn into a handsome investment at some point. I have had this kind of pain many times before. (Most recently, on CHRZ which about 7 weeks ago bottomed at 9.25, having dropped from 50+. I bought from 17 on down, taking my largest position at 10 for an average of 13. Today, it is over 19. Doubled in 7 weeks.) SEPR will bottom, God knows where (and He has not let me in on it). I hope I can make a good stab at the right time and substantially increase my position. My best guess, is in the 50's. Where ever it bottoms, I think we will experience a sharp bounce and not return. At 10 CHRZ was a great value. When I told that to some, they told me the chart was bad. They were right. At 55 SEPR will look awful too, but this will end somewhere. Best wishes for all SEPR longs. ij

To: Art Vandelay AIA who wrote (2953)	5/25/1999 12:30:00 AM
From: jeffbas	Respond to of 10280

Hi, Bruce! (Sorry, Art.) I probably looked at this stock before most people on this thread, back when it was a little stock at $10 a share years ago. I ran across it somewhere and was intrigued by the strategy. I have always wanted some edge to get involved with biotech, which reduces the risk. Although I ended up an actuary, I had a very solid chemistry minor in college, and understood left and right-handed isomers very well (at that time). However, it somehow fell off my radar and I never bought it. Perhaps I will have an opportunity on this decline, although because of my very cautious view of the general market I may be overly patient and miss it. It is also generally a better idea to put your money into a better performing sector on a market drop - like the ECM area. (ACTM is not one of the better companies but has gotten more interesting with the merger -- NH I sold, because the price paid for CSE was dumb.) Can anyone comment on the long term earnings outlook after recent events? Analyst's estimates seem to be for $4 per share losses for the current and next fiscal year.