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Biotech / Medical : Biotech Valuation

CRSP 58.15

+5.4%

Jan 6 3:59 PM EST

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To: zeta1961 who wrote (10518)	2/20/2004 3:22:52 AM
From: Doc Bones	Read Replies (1) of 52153

I agree: ELN is still tainted; too much baggage. I think it's great for the sector though that two of the most notorious biotech flim-flams: ELN & IMCL, have proved that they did have real science producing real drugs. I just hope it doesn't encourage the more "pure-play" flim-flam companies too much. I think the market tends to repeat what has gone before, and perhaps the most similar action to BIIB's: good-sized respectable biotech getting great news on a very promising drug, would be DNA's results with Avastin in May. DNA doubled fairly quickly from 40 to 80 and has been a monster ever since then, now 95, in spite of doubters. #reply-19062694 I would speculate that BIIB is benefiting from some "DNA effect." I agree that ELN seems the better buy [picked some up this morning, along with 12.5 calls, late but still yummy.] It might be a logical "pairs trade:" long ELN and short BIIB. But BIIB is the kind of monster that pro shorts avoid, and I'm certainly not tempted at this stage. Doc

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