3SOF

Frank, buy more of it if you must, but you should remember that only 8 days ago this stock was .88, and a short month ago it was .71. The price and volume looks to have peaked on June 21. My gut tells me this goes back under $1 within a few trading days. I hope i'm wrong, for your sake, but trying to buy more of a stock gone bad to me is like throwing good money after bad. Sure, once it a while it can pay off, but in the long run it is a losing stradegy. Better to flush a bad trade ASAP and try to make it up somewhere else in my humble opinion. I always remember a quote from one of my stock study books, "Last one still in the pool gets to swim with the turd"

Calguy, thank you for your suggestion but the important thing is the time frame. While it's sure by the end of today it won't get back to $2, it may by next week...

If your temporary loss is too big for you, you're right. If you can hold off on it, wait, eventually it will go up (if the company is not a scam, and again, I believe it's not).

If you look at the recent history (last 3 years GLGS had many spikes up and down sometimes very close one to the other), GLGS trend is unpredictable.

I have reached my end on this one, and see little reason for it go substantially higher.  Seeling off my holdings.

Frank, If GLGS goes back up to where you can make a profit, i'll be the first to congradulate you. Good Luck, hope it works well for you.

thanks, good luck to you calguy.

All I can say, is in troubled times as the market is having right now, have sell disciplines.  Through years of investing you learn quickly that if you lose 50%, you need to double your money to breakeven.  Doubles are certainly hard.  Every person needs to impose there own tolerance.  I like this site as there are a lot of good minds, however some cconstructive criticism, is that there is not enough guidance as stocks are dropping.  Hand holding is always welcomed

Quote from: Adam on June 24, 2005, 02:55:12 PM
All I can say, is in troubled times as the market is having right now, have sell disciplines.  Through years of investing you learn quickly that if you lose 50%, you need to double your money to breakeven.  Doubles are certainly hard.  Every person needs to impose there own tolerance.  I like this site as there are a lot of good minds, however some cconstructive criticism, is that there is not enough guidance as stocks are dropping.  Hand holding is always welcomed

I think it would be a good idea to include stop loss suggestions along with Stock calls. I know David must use them, so it would be nice to include them as part of any recommendation.
I think some of the newer traders need to be reminded constanlty the importance of risk management, even when buying a stock an 'expert' suggested they buy. We all need to take personal; responsibility for all our OWN trades, no matter who brought them to out attention.

For those who bought on David's advise.... David if you are still reading these posts... what do you see going on with this stock now... will it continue to fall, level off, or perhaps start a gradual climb? I hope...

GLGS filed a prospectus today, too bad my stop was reached today, the impact of this prospectus might have some interesting effects on monday

http://www.pinksheets.com/quote/print_filings.jsp?url=%2Fredirect.asp%3Ffilename%3D0001193125%252D05%252D131042%252Etxt%26filepath%3D%255C2005%255C06%255C24%255C&symbol=GLGS#D424B3_HTM_TX83800_2

China,
I can't get your link to open... whats it saying?

Quote from: Adam on June 24, 2005, 02:55:12 PM
....  I like this site as there are a lot of good minds, however some cconstructive criticism, is that there is not enough guidance as stocks are dropping.  Hand holding is always welcomed

Amen! I for one would appreciate hand holding advice on the way down. While at the same time, I do realize the trade is my responsibility. But I am sincere when I say that the more I make from trades advice from 3SF the more I will be more than willing to contribute to keep this fine site working. I have searched for two years of a site of this quality. All this is growing pains which will make a great site even greater.

At the same time I must say that I appreciate all the hard work which is obviously being done to get 3StocksOnFire working and ongoing. 

You can try this, but it's not much help either - sorry.

http://www.pinksheets.com/quote/news.jsp?symbol=glgs

You might also want to take a look at the yahoo message-board:

http://finance.messages.yahoo.com/bbs?.mm=FN&action=m&board=13247489&tid=safs&sid=13247489&mid=34012

I dont have any GLGS myself.

I'm still holding. News out.

GlycoGenesys, Inc. GCS-100 Cancer Drug Candidate Subject of Abstract in The American Society of Hematology's Annual Meeting Abstracts Book 
12/15/2005 8:30:01 AM 
BOSTON, Dec 15, 2005 (BUSINESS WIRE) -- GCS-100's Target, Galectin-3, Widely Expressed in Multiple Myeloma

Multiple Myeloma Clinical Trial Enrolling at Several Sites in US

GlycoGenesys, Inc. ( GLGS ), a biotechnology company focused on drug development, today announced that its cancer drug candidate, GCS-100, was the subject of an abstract published in Blood, the official journal of The American Society of Hematology, in connection with the Society's 47th Annual Meeting.

The abstract entitled "Expression and Modulation of Carbohydrate-Binding Protein Galectin-3 in Multiple Myeloma Cells by Combined Treatment with GCS-100 and Dexamethasone", was authored by researchers at the Dana-Farber Cancer Institute, Harvard Medical School, Boston, MA and GlycoGenesys, Boston MA.

As background, Galectin-3 (Gal-3) is a carbohydrate-binding protein that is one of the targets of GCS-100, a complex carbohydrate drug candidate that is currently in clinical development for treatment of multiple myeloma, solid tumors and a clinical trial for chronic lymphocytic leukemia is planned to initiate before year-end. Gal-3 is an important protein involved in multiple cellular processes including growth, differentiation, adhesion and programmed cell death (apoptosis). It is known to play a role in the transformation and metastasis of tumor cells. Previous studies have shown that Gal-3 expression inhibits the mitochondrial release of cytochrome-c, a key protein involved in the induction of apoptosis, or programmed cell death.

The abstract shows that Gal-3 is widely and differentially expressed in a variety of multiple myeloma cell lines and patients' cells. The authors' reported that GCS-100 binds to Gal-3 and can trigger apoptosis in multiple myeloma cells as well as enhance the anti-tumor activity of the conventional agent, dexamethasone. Additionally, sub-toxic concentrations of GCS-100 and dexamethasone were shown to markedly decrease the expression of Gal-3 in multiple myeloma cells and lead to the release of cytochrome-c. This new data suggests that GCS-100 and dexamethasone can overcome the inhibitory effect of Gal-3 on cytochrome-c to cause programmed cell death. In conclusion, the authors propose that inhibition of Gal-3 may augment the anti-tumor activity of therapeutic regimens.

In previously published papers, GCS-100 has been shown to induce selective programmed cell death in multiple myeloma patient cells, including those refractory to traditional chemotherapies such as dexamethasone, Velcade(R), and Thalomid(R).

Bradley J. Carver, CEO and President of GlycoGenesys, Inc., stated, "Recent publications including this ASH abstract continue to support the design of our current Phase I/II clinical trial, which is evaluating GCS-100, alone and in combination with dexamethasone, to treat patients with multiple myeloma. Since Galectin-3 is widely expressed in multiple myeloma cells, its inhibition by GCS- 100 may increase the anti-tumor activity of existing therapies. We look forward to reporting on our clinical trial results next year."

Abstract #4447 appears in Blood, Volume 106, issue 11, November 16, 2005

Keywords: Glycoprotein|BCL2|Experimental therapeutics

Wednesday, November 30, 2005

http://www.abstracts2view.com/hem_ash05atlanta/view.php?nu= HEM05L1_3831

(Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)

About GlycoGenesys, Inc.

GlycoGenesys, Inc. is a biotechnology company focused on carbohydrate drug development. The Company's drug candidate GCS-100, a unique compound to treat cancer, has been evaluated in previous clinical trials at low dose levels in patients with colorectal, pancreatic and other solid tumors with stable disease and partial response documented. The Company currently is completing a Phase I dose escalation trial to evaluate higher dose levels of GCS-100LE, a low ethanol formulation of GCS-100, at Sharp Memorial Hospital, Clinical Oncology Research in San Diego, California and the Arizona Cancer Center in both Tucson and Scottsdale, Arizona. In addition, GCS-100LE is being evaluated in a Phase I/II trial for multiple myeloma at the Dana-Farber Cancer Institute in Boston, Massachusetts, Roswell Park Cancer Institute in Buffalo, New York and Emory's Winship Cancer Institute. Further clinical trials are planned 2006. Further information is available on GlycoGenesys' web site: www.glycogenesys.com.

Safe Harbor Statement

Any statements contained in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including, but not limited to, risks of product development (such as failure to demonstrate efficacy or safety), risk related to FDA and other regulatory procedures, market acceptance risks, the impact of competitive products and pricing, the results of current and future licensing, joint ventures and other collaborative relationships, risks relating to raising sufficient capital to fund the Company's operations, developments regarding intellectual property rights and litigation, and other risks identified in the Company's Securities and Exchange Commission filings. Actual results, events or performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as the date hereof. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

SOURCE: GlycoGenesys Inc.

GlycoGenesys Inc.
John W. Burns, 617-422-0674
Senior Vice President and CFO
or
Rick Pierce, 617-422-0674
VP of Business Development
or
The Ruth Group
Investors:
John Quirk, 646-536-7029
or
Media:
Janine McCargo, 646-536-7033


Copyright Business Wire 2005

Bad news!

GlycoGenesys, Inc. Announces Chapter 11 Filing, Reduction in Work Force and Senior Management Changes 
2/3/2006 8:00:37 AM 
Company Significantly Reduces Expenses To Pursue Strategic Alternatives While Maintaining Multiple Myeloma Clinical Trial

Feb 03, 2006 /PRNewswire-FirstCall via COMTEX/ -- GlycoGenesys, Inc. ( GLGS ), a biotechnology company, today announced that it and its subsidiaries have filed voluntary petitions to restructure under Chapter 11 of the U.S. Bankruptcy Code in the Bankruptcy Court for the District of Massachusetts. In addition, the Company laid off over half of its work force and effected senior management changes to allow it time to pursue strategic alternatives including a sale of the Company. As a part of this effort, the Board of Directors appointed John W. Burns, the Company's Senior Vice President and Chief Financial Officer, to the additional positions of Interim Chairman of the Board of Directors and Treasurer and Frederick E. Pierce, II, the Company's VP Business Development, to the additional positions of Interim Chief Executive Officer and President.

Bradley J. Carver has stepped down as the Chief Executive Officer, a position he held since June 2000. Mr. Carver will continue to provide services to the Company as a consultant and remain a member of the Board of Directors.

Dr. Burns and Mr. Pierce, together with other retained employees, will utilize their extensive backgrounds in healthcare and finance to pursue strategic alternatives for the Company while in Chapter 11. Through work force reductions the Company has recognized an immediate reduction of over 40% of its payroll beginning February 1, 2006.

"We are concentrating the Company's efforts on significantly reducing and containing monthly expenses in Chapter 11, maintaining our multiple myeloma clinical trial, and securing a strategic alliance or other alternative to enable the Company to emerge stronger from Chapter 11," said Mr. Pierce.

Dr. Burns has been the Company's Chief Financial Officer since January 2000, a Senior Vice President since March 2001 and a Director since June 2002. Prior thereto, Dr. Burns was the CFO/Senior Vice President, Finance & Business Operations for South Shore Hospital, a regional healthcare services provider based in South Weymouth, MA, from February 1993 to February 1999. From January 1989 to December 1992, Dr. Burns was the Vice President/Treasurer and a subsidiary CFO/Vice President, Finance for Eastern Enterprises, a NYSE company. Dr. Burns has also held corporate finance and treasury positions with Allied-Signal, Citicorp Investment Bank and International Paper. He began his career with Ciba Giegy (now Novartis) as a biostatistician. Dr. Burns holds a Master of Business Administration in Finance from New York University and holds a Doctor of Philosophy in Mathematics from Stevens Institute of Technology.

Mr. Pierce has been Vice President of Business Development for the Company since August 2002 and Vice President of Finance and Investor Relations since June 1998. Prior to joining GlycoGenesys, Mr. Pierce was at Lehman Brothers, where he was the New England private client services liaison to healthcare investment banking. In addition, Mr. Pierce had over seven additional years experience at Kidder Peabody and Merrill Lynch. Mr. Pierce received a B.S. in chemistry from Hampshire College.

About GlycoGenesys, Inc.

GlycoGenesys, Inc. is a biotechnology company focused on carbohydrate drug development. The Company's drug candidate GCS-100, a unique compound to treat cancer, has been evaluated in previous clinical trials at low dose levels in patients with colorectal, pancreatic and other solid tumors with stable disease and partial response documented. The Company currently is completing a Phase I dose escalation trial to evaluate higher dose levels of GCS-100LE, a low ethanol formulation of GCS-100, at Sharp Memorial Hospital, Clinical Oncology Research in San Diego, California and the Arizona Cancer Center in both Tucson and Scottsdale, Arizona. In addition, GCS-100LE is being evaluated in a Phase I/II trial for multiple myeloma at the Dana-Farber Cancer Institute in Boston, Massachusetts, Roswell Park Cancer Institute in Buffalo, New York and Emory's Winship Cancer Institute, Atlanta, Georgia. Further information is available on GlycoGenesys' web site: http://www.glycogenesys.com.

Safe Harbor Statement

Any statements contained in this release that relate to future plans, events or performance are forward-looking statements that involve risks and uncertainties, including, but not limited to, risks that the Company's securities will lose all value in a Chapter 11 bankruptcy, risks relating to raising sufficient capital to fund the Company's operations, risks of product development (such as failure to demonstrate efficacy or safety), risk related to FDA and other regulatory procedures, market acceptance risks, the impact of competitive products and pricing, the results of current and future licensing, joint ventures and other collaborative relationships, developments regarding intellectual property rights and litigation, and other risks identified in the Company's Securities and Exchange Commission filings. Actual results, events or performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as the date hereof. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

SOURCE GlycoGenesys, Inc.

Rick Pierce, Interim Chief Executive Officer, or John W. Burns, Sr. VP., and Chief
Financial Officer, both of GlycoGenesys Inc., +1-617-422-0674

http://www.prnewswire.com


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