PLEASE KEEP IN MIND

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AETERNA ZENTARIS, INC & NUPATHE, INC.

***We no longer follow the companies mentioned in these backdated newsletter issues. These samples of past newsletters are generated to give you an idea of what you can expect when you subscribe. Please do not use any of the information contained in the samples below as current advice. If you would like to purchase a newsletter subscription, please click here. ***

Hello Readers,

Since the last Newsletter, we closed eight positions; five for gains and three for losses.

MERRIMACK PHARMACEUTICALS (11/20/13). Closed position 11/26/13 at $3.85 for a 54% GAIN.

DURECT CORP (9/5/13). Closed position 11/25/13 at $1.73 for a 60% GAIN.

ZYNGA, INC. (10/5/12). Closed position 11/21/13 at $4.46 for a 57% GAIN.

INTELLIPHARMACEUTICS (10/5/13). Closed position 11/19/13 at $3.70 for an 89% GAIN.

ON TRACK INNOVATIONS (6/20/11). Closed position 11/18/13 at $3.48 for a 58% GAIN.

QUALSTAR (10/20/10). Closed position 11/18/13 at $1.03 for a 70% LOSS.

TRANSWITCH (2/5/13). Closed position 11/19/13 at 20 cents for a 78% LOSS.

BACTERIN INT’L (5/5/12). Closed position 11/26/13 at 45 cents for a 78% LOSS.

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ZOGENIX, INC. & CURIS, INC.

***We no longer follow the companies mentioned in these backdated newsletter issues. These samples of past newsletters are generated to give you an idea of what you can expect when you subscribe. Please do not use any of the information contained in the samples below as current advice. If you would like to purchase a newsletter subscription, please click here. ***

Hello Readers,

During the last few months, we had quite a run on closing positions, so, it is not surprising that we have had a drought over the last several weeks. Our lack of activity could be reflective of the overall markets, which, given some volatile days, are about at the same levels they were a month ago. And, barring any unforeseen surprises, such as Fed tapering before Christmas, we expect the markets to remain in idle until year’s end. So, sit back, relax, and enjoy the holidays.

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NANOSPHERE, INC. & MERRIMACK PHARMACEUTICALS, INC.

***We no longer follow the companies mentioned in these backdated newsletter issues. These samples of past newsletters are generated to give you an idea of what you can expect when you subscribe. Please do not use any of the information contained in the samples below as current advice. If you would like to purchase a newsletter subscription, please click here. ***

Hello Readers,

Since the last Newsletter, we closed four more positions; three for gains and one for a loss.

LIONBRIDGE TECHNOLOGIES (11/5/12). Closed position 11/5/13 at $5.35 for a 70% GAIN.

MINDSPEED TECHNOLOGIES (8/20/13). Closed position 11/6/13 at $5.02 for a 76% GAIN.

GALENA BIOPHARMA (8/20/13). Closed position 11/13/13 at $3.08 for a 57% GAIN.

VELTI (6/20/13). Closed position 11/5/13 at 27 cents for an 81% LOSS.

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SEQUENOM, INC. & CORINTHIAN COLLEGES, INC.

***We no longer follow the companies mentioned in these backdated newsletter issues. These samples of past newsletters are generated to give you an idea of what you can expect when you subscribe. Please do not use any of the information contained in the samples below as current advice. If you would like to purchase a newsletter subscription, please click here. ***

Hello Readers,

Since the last Newsletter, we closed two positions; one for a gain and one for a loss.

NEGENOMICS (9/20/13). Closed position 10/24/13 at $4.12 for a 65% GAIN.

ANTHERA PHARMACEUTICALS (10/5/12). Closed position 10/24/13 at $3.52 for a 56% LOSS.

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GTX, INC. & AGENUS, INC.

***We no longer follow the companies mentioned in these backdated newsletter issues. These samples of past newsletters are generated to give you an idea of what you can expect when you subscribe. Please do not use any of the information contained in the samples below as current advice. If you would like to purchase a newsletter subscription, please click here. ***

Hello Readers,

Since the last Newsletter, we closed four more positions; two for gains, one for a loss, and one was a wash.

DISCOVERY LABS (7/20/13). Closed position 10/4/13 at $2.90 for a 70% GAIN.

HORIZON PHARMA (12/20/12). Closed position 10/8/13 at $3.95 for a 67% GAIN.

FLOW INTERNATIONAL (6/5/13). Closed position 10/8/13 at $3.99 for a 1% GAIN.

MAJESTIC ENTERTAINMENT (3/5/12). Closed position 10/8/13 at 57 cents for a 77% LOSS.

Discovery Labs rocketed on news that the FDA agreed to update product specs for SURFAXIN for preventing respiratory distress syndrome. Sometimes a stock gets a nice lift when a brokerage flashes a “buy” signal and this appears to be what happened with Horizon Pharma as R.F. Lafferty did just that. We closed Flow International for a breakeven as the company is being acquired by American Industrial Partners. And, we finally closed Majestic Entertainment for a loss.

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INTELLIPHARMACEUTICALS INT’L, INC. & AMICUS THERAPEUTICS, INC.

***We no longer follow the companies mentioned in these backdated newsletter issues. These samples of past newsletters are generated to give you an idea of what you can expect when you subscribe. Please do not use any of the information contained in the samples below as current advice. If you would like to purchase a newsletter subscription, please click here. ***

Hello Readers,

Since the last Newsletter, we closed three positions; two for gains and one for a loss.

PSIVIDA (8/5/12). Closed position 9/19/13 at $4.25 for a 54% GAIN.

GERON (2/5/12). Closed position 9/23/13 at $3.17 for a 62 GAIN.

NEOSTEM (5/20/11). Closed position 9/23/13 at $8.84 for a 47% LOSS.
(price reflects reverse split).

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NEOGENOMICS, INC & HUDSON GLOBAL, INC.

***We no longer follow the companies mentioned in these backdated newsletter issues. These samples of past newsletters are generated to give you an idea of what you can expect when you subscribe. Please do not use any of the information contained in the samples below as current advice. If you would like to purchase a newsletter subscription, please click here. ***

Hello Readers,

Since the last Newsletter, we have closed two positions; one for a gain and one for a loss.

NOVAVAX (4/5/10). Closed position 9/13/13 at $3.48 for a 51% GAIN.

GLOBALSCAPE (5/20/08). Closed position 9/13/13 at $1.60 for a 32% LOSS.

As most of you know, it usually does not take us this long to close positions, and we are happy to finally close Novavax for a nice gain; it jumped on news of the potential protective effects of its RSV vaccine candidate. A few issues ago, we said we were thinking about closing GlobalSCAPE because it had been in the Current Portfolio for way too long; yes, we believe in patience, but this pushed us to the limits.

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DURECT CORPORATION & TRANSCEPT PHARMACEUTICALS, INC.

***We no longer follow the companies mentioned in these backdated newsletter issues. These samples of past newsletters are generated to give you an idea of what you can expect when you subscribe. Please do not use any of the information contained in the samples below as current advice. If you would like to purchase a newsletter subscription, please click here. ***

Hello Readers,

Given the market’s continuous August swoon, it isn’t surprising that we were unable to close any positions over the last several weeks. In fact, August appears to have been the market’s worst month since May, 2012, and, obviously, this downward pressure has bruised our Current Portfolio. Usually, September is a pretty rough month for the markets and this September may be more stressful than usual because of the Syrian situation, which really isn’t about Syria; it’s about their ally Iran. We suspect Iran was behind the chemical weapons attacks as a way of testing the Obama administration. So, add that to the budget showdown and debt ceiling debates and the waters look real murky this month. Now, having said that, too often the market does the opposite of what is expected of it, or so we hope.

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