COBRA - PRICED TO SELL - STRONG BUY IMHO

WhiteBike,

You're not wrong. CEN has been an absolute bitch to the resolute few who have followed it through thick and thin (mostly thin) - however now IMO is a good time to take a fresh look. Have been following CEN for some time (no emotional handles hasten to add). Worth asking oneself why the Exec have sold down their portfolio to focus on their lead acute pain drug - bodes well, IMO.

I'm anticipating a an outlicence deal for this drug at the end of Mar early Apr, close to when the next trial data should be coming out. Current market cap puts very little value against this drug. The upside has to be pretty favourable and CEN as a target for a Co already in this space has to be a real possibility. I'm also using as a hedge on DepoM at SKP. Which IMHO has a good 3 year lead to market. I'm looking for value in the market and there are precious few bargains around now. Whilst there are clearly risks, CEN is one of the few IMHO that does offer pretty good risk/reward ratio and good to excellent value at sub 8p offer.

SGD, 'fullup'? Let's have a decco....

CBF could well be on the stockpickers lists for 2004. Next weekend's press? ;o)

JJk