X-Message-Number: 7387
Date: Tue, 31 Dec 1996 10:12:06 +0100
From: John de Rivaz <>
Subject: Re: More on Geron

In article: <> 
 writes:
> Subject: More on Geron
> From:  (Edgar W Swank)
> 
> Bob Ettinger wrote on Dec 23,
> 
>   The current issue of the California Technology Stock Letter, by
>   Michael Murphy, has its feature article headlined DEATH VERSUS
>   IMMORTALITY, and recommends buying stock in Geron (GERN,
>   Nasdaq) at a limit of $10, target of $45 by 1999.
> 
> Looks like that horse has already left the gate. Geron closed
> at 13 3/8 on Dec 26, after a steep rise from 8.875 on 12/20.

It has been my experience with bio stocks that sharp rises are often followed 
by sharp falls when investors realise that years or decades may pass before 
the balance sheets are affected. However these stocks are worth tucking away, 
because once the results appear in the balance sheets the price goes up and 
does not come back. Telomere *results* are still a long way off.

An example of a stock that came back is Immunogen - it looked as though the 
sky was the limit earlier this year, but that rise is now just a blip. The 
stock is still worth holding for the long term, but it will not rise like a 
computer stock.

The established large pharmaceuticals are a different matter. Warner Lambert, 
for example, has been described as acquiring the characteristics of a "go-go" 
stock rather than a sure and safe widows-and-orphan safe boring investment. A 
lot of the big pharmaceutical companies are now benefiting from technology 
pioneered by the smaller companies to increase the screening of new compounds 
for possible new products by factors of several orders of magnitude.

-- 
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