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

To: Biomaven who wrote (3212)	6/4/1999 2:50:00 PM
From: Peter Kerling	Respond to of 10280

Thanks Peter, the dilutive effect of issued stock options seems to be acceptable at all. For a rough calculation I think the convertibles represent the equivalent of 2.34 million shares (SEPR funded 300 Mio., strike price about 128 USD). So all together we have 5m + 4m + 2m = 11m shares, which represent a plus of 1/3 over todays 32m shares outstanding for FY2005 plus x for future fund raising activities (if any). I will have a look on that when talking about future EPS and broker recommendations. Peter