Dow Jones 9253.90 +74.37 9:00 am PST, June 20, 2003  NASDAQ 1650.33 +1.69 For info, visit access.smallcapnetwork.com S & P 500 1000.48 +5.78 To be removed, please click here Russell 2000 450.08 -0.25 VOLUME 03: ISSUE 32  TRADING ALERT: GlycoGenesys Inc. Carbohydrate-based Cancer therapies A biotech stock that landed firmly on our radar screen as a potentially profitable short-term trade is GlycoGenesys Inc. (NASDAQ: GLGS). Our sources tell us that the next couple of weeks could be exciting this Boston-based pharmaceutical company which is engaged in various stages of developing carbohydrate-based (glycobiology) drugs and technologies including its flagship GCS-100-a complex carbohydrate targeted to fight cancerous tumors and their metastasis. For risk oriented traders-and we mean that-a purchase at $1.10-$1.25 with a hold time of a couple of weeks should return nicely. Our feeling is that a short-term target could be $1.80-$2. We believe that the best strategy would include placing a stop loss at 95-98 cents at the time of purchase, to offer downside protection. This situation is extremely volatile and price gapping up or down is a distinct possibility. GlycoGenesys has no revenues and will likely report losses for the foreseeable future. The 52-week range has been 18 cents to $1.39. The shares currently trade at about $1.10, having risen in the last two weeks from less than 50 cents to a high of $1.39 based on findings reported at the American Society of Clinical Oncology conference in Chicago at the beginning of June. A recent press release excerpt stated that: "GCS-100 induces programmed cell death, or apoptosis, in cancer cells by selectively depolarizing the mitochondria of cancer cells, as well as mediating a Bcl-2 pathway-induced cell death response while bypassing the Bcl-2 pathway itself. This  mitochondrial disruption is similar to approved chemotherapy drugs like taxol, taxotere, and other taxanes, potentially without their side effects," GlycoGenesys said. The stock had a huge breakout day when the first results on the drug were published at ASCO and it has now pulled back to a significant technical support level and quieted down. We believe that the biotech conference next week-noted below-- could spark another surge of interest. On Wednesday, June 25th, GLGS will present at the BIO (Biotechnology Industry Organization) 2003 Business Forum in Washington DC; attendance is expected to be more than 3,000 delegates from 50 countries. As well, over 15,000 biotech industry executives, investors, legislators, regulators and media are expected to attend. We feel that this is an interesting opportunity to participate in a novel biotech situation that has proved profitable recently. The exposure gained through the BIO forum next week will put GlycoGenesys in front of a significant number of peers, competitors and investors. Investors who choose to participate must be prepared to assume substantial risk in hopes of significant rewards. We will monitor as closely as our publishing schedule will permit. We'd like to hear your questions, comments and suggestions. Email us here: editor@smallcapnetwork.com Unsubscribe Here D I S C L A I M E R : The SmallCap Digest is an independent electronic publication committed to providing our readers with factual information on selected  publicly traded companies. SmallCap Digest is not a registered investment advisor or broker-dealer. 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