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Biotech / Medical : SIBIA Neurosciences (SIBI) -- Ignore unavailable to you. Want to Upgrade?

To: RWReeves who wrote (380)	5/28/1999 9:12:00 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 579

>> That's not good for stockholders and I think the stock price reflects this. << The other day, I proposed that the dribble of shares was like a recent dribble of NRGN into demand, that it was a seller who was forced to unload due to redemptions........ exchange2000.com It turns out that the huge block of GLFD that traded this week was BVF (SC 13G/A filed today). I'd suggest, therefore, that the tempered response to the Lilly deal was a rally cut short by a friendly seller, a seller that is being forced to sell. I have frequently drawn parallels between the current market conditions and those that forced Amerindo out of biotech, and I feel that (1) whoever was cutting back on their shares would have preferred not to do such, and (2) those who were accumulating this week are on the smart end of the trades. We will see. I certainly didn't buy many more shares..... only added a few, and feel that my exposure is sufficient given the risk (disclaim, disclaim, disclaim). >> It seems to me deals like LLY are like a secondary offering where common shareholders get muscled aside by a tracking stock-like instrument. The effect is highly dilutive. << SIBI absolutely needed to partner these projects, and they have gone out of their way to say, in virtually every disclosure, that they would. 1508 and 1553 are interesting, but they're crapshoots in my eyes. If this tracking-like deal is tied to a 20% royalty, I just don't see how anyone can bitch. Next breath, I'm like Mike.... I expected to see, at this late date, clinical results before any partnership. But, the option would help to accelerate any phase II ----> III transition for a company that was running three phase II trials and building R&D on scant cash, and I see no reason to believe, given what we know, that the option is not a win-win proposal. It's sort of like GLIA.... most shareholders are transfixed with the Adcons. I came to the issue with a focus on inflammation/Alzheimer's (Janssen) and the H3 receptor antagonists. For SIBI, it appears that most shareholders are focused on 1508 and 1553, while I considered them to be curious ops for skying while focusing my initial attention on BMY, VGCC and the screening patents. The last thing I want to do is to defend any company's move if it harms the common shareholder. I move on when I see such, and I rarely look back. Very few respect the mettle and intelligence behind SIBI, as they're so quiet and secretive. I do, and I'm interested in where we go from here. >> Didn't you post something to that effect on the Chiron thread a while back? << Didn't know there was a Chiron thread, so.... no, don't think so. Could be wrong however, as I sometimes get pulled into threads by people who dig up old posts and reply to them.