Biotech Restructurings Message Board

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Biotech / Medical : Biotech Restructurings

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To: Icebrg who wrote (24)	10/9/2002 7:12:29 PM
From: scaram(o)uche	Read Replies (1) of 270

I don't follow NWBT, no application of comments to the company. One good thing to come from this liquidity crisis? It finally looks like lots of the crappy biotechs will just go poof. It's been torture, over the years, watching them just creep along, garnering a large percentage of investor bucks. I can't imagine what is stopping a company like Valentis from just selling the rights to gene switch for a few bucks, closing shop, and returning what's left to shareholders. Hand waving for years, they're left with a toss-away from when Progenitor went belly-up. The company was managed as though it was a comic strip biotech. Why keep the shop open at all? Public as Megabios in '97, 2.5 million shares at $12. Montgomery Securities and H&Q. Merged with GeneMedicine and then with PolyMASC, they picked up Del-1 from Progenitor. There are much more blatant examples, but...... these never-ending fishing expeditions have finally come up against a wall, where financing isn't available.

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