from a friend who worked at credit suisse

I posted this on the Prana Yahoo Message Board and it was much appreciated by the longs. I'm re-posting for you dedicated HotCopper members. Someone who is a mentor of mine worked at Credit Suisse, I called her today to ask her opinion about Prana's move.

First a little background info. Before starting a 30+ year career on Wall Street she was in cancer research for 7 years. She was at Credit Suisse from 1989-94, in the middle of her career, bringing in deals and filling placements. She raised money for numerous biotechs and still follows the space closely. The only friend she still has at CS is the head of their technology banking group, they worked together at Dillon Read. He’ll have no involvement with Prana.

This is what she said, almost verbatim; Credit Suisse, good research and great analysts. They’re in high standing with biotech community. CS wouldn’t get involved with a pre-revenue company unless they liked the science, space, and market potential. This is Wall Street, they’re the greediest of the greedy and they don’t do anyone any favors. CS must see the potential to make a lot of money. Prana will get visibility that they can use for a better position in partnership negotiations. CS will probably represent them with potential partners. Take this all as a great sign. They would not get involved with Prana without being fairly confident good results were coming.

She also suggested that I hold all my stock through both results and that we’ll see $12 (USD) soon.