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Biotech / Medical : biocircuits BIOC
BIOC 0.780+2.0%9:33 AM EDT

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To: Craig Rodkin who wrote (42)7/15/1997 4:00:00 PM
From: Steve Robinett   of 65
 
Craig, Just guessing but I'd say it's the 2nd-tranche-effect. Without it, they were deadmeat--delisted and gone to the pinks. With it, they live for another year. Combined with the Beckton-Dickenson deal, solving their sales and manufacturing problems so they can pay attention to expanding the test menu, this dog is starting to hunt.
I took a look at some of the back SEC filings. If I've got this right, it appears the 10 investors in the private placement financing deal put in equal portions. Among the 10 are the Pres and a couple of other insiders. That means over the last 4 month, each of them has ponied up about $600,000 to keep BIOC alive. I do like to see insiders putting more money in a company. Especially when they're buying in at about $1 and my cost is 13/16.
Best,
Steve
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