T/FIF, a New Plateau Message Board

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Biotech / Medical : T/FIF, a New Plateau

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To: scaram(o)uche who wrote (587)	7/30/2001 1:39:30 AM
From: tuck	of 2243

If I may butt in for a second, just with some additional info on MCLS: I took some notes from the last quarterly conference call, and posted a digested version on Trickle: Message 15745505 I can add to this a little. Their objectives for 2001 included the signing of 3 platform deals. They were talking big pharma type things, so I'm not sure that the Elitra and NBIX deals count. I'm looking for another deal, and the pop would be noticeable at these prices should they get one. Further, they projected a burn rate of $5 million per quarter going forward, not figuring upfront payments as a result of a deal into that. That's why I'm giving them one more quarter to make one of those deals. They do not intend to increase head count. Projected capex $7 million for the year, mostly for robotics at Emerald. That figure did depend on landing a couple of deals. The implication being that they would scale back spending in some way, if they didn't get 'em. This was as of 5/1/01. Did not hear their warning CC. MOGN may be the best idea of that list, in terms of multiple home run potential. I think certain of the trickle companies may be good for a fairly safe double over the next several quarters. But that's not T/FIF's usual style. NPSP has some leverage? I can only guess at the potential royalty streams, being clueless about the %s involved. Cheers, Tuck

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