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Biotech / Medical : Biotech & Pharma.T.A,

BIB 86.27

+6.0%

4:00 PM EST

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To: cavan who wrote (166)	1/3/2003 4:37:08 PM
From: Jibacoa	Read Replies (1) of 3722

Jerry: DGEN & PDGM remain both on a near term down-trend and they are both very speculative. DGEN seems now to be more oversold.It has been on a steady down-trend since its H of 1.50 on October 17. PDGM has also a pretty steady down-trend since its September 9-September 10 double-top at the 1.29 level.(It attempted to rally on October 1 when it bounced back to the $1 level and in late October when it traded for several days between 0.82 and 0.84) The "insiders" at PDGM hold only 8% of the shares but the institutions that hold 60% of the shares have done some buying lately.It sells around 0.3 of book and 0.47 of sales.It has close to $0.30 in cash/share(good for a little more than 2Qs at the present burn rate) The insiders at DGEN hold more than 80% of the shares and the institutions that hold more than 300% of the float have been doing some buying lately in spite of the large last Q loss of $1.19/share. (Part of the loss was due to goodwill and fixed assets impairment charges)Their revenues have increased. DGEN's products and programs have been validated by customers and partners such as LLY, MLNM, PFE,GSK, MRK and SGP.They have recently done some research on melanopsin in collaboration with researches at Stanford.They also have an "inflammatory disease program" which includes DT044I that has potential future use in rheumatoid arthritis. DGEN is the exclusive licensee of CAR transgenic technologies from Baylor and have recently reported that CAR plays a role in the metabolism and toxic action of acetaminophen and potentially other liver-toxic pharmaceutical agents. Bottom line, although both are very speculative, I am more in favor of DGEN and that is why I included on my "speculative portfolio for 2003".<g> Message 18398284 siliconinvestor.com siliconinvestor.com Bernard

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