Club Biomed &endash; Meeting Minutes &endash; 19 Jan, 2003

Welcome and monthly contribution collections. Andrea substituted for Carlos this month.

John reported on the plans made to create a portfolio last June. We are on track in both dollar value of the account and the number of stocks. He noted that the portfolio did not include any higher risk/speculative/low cap biotech stocks. Several partners commented that we should move in that direction. We have the funds to purchase one or two stocks in this category.

Stock presentations: Neil and Laura presented Regeneron. They argued that Regeneron was a volatile stock with a potential blockbuster in the pipeline. Preliminary studies of CNTF suggest that it will be a competitive weight loss drug with long term effects. They suggested buying on a dip with the intention of selling on good news. John asked about the financial status of the company and the impact of the expected sales on the bottom line. The stock is currently trading at 17 and the partners agreed to put in a limit order for 180 shares at a strike price of $12.00. The stock will be reviewed next month.

New business.

Planned Agenda items for March meeting includes:

Probable Agenda items for future meetings

-- submitted by John Wagner