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Biotech / Medical : Biotech Stock Picking for Charity - 2004
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To: Arthur Radley who wrote (307)12/22/2004 3:33:28 PM
From: Icebrg  Read Replies (2) of 346
 
It's difficult to have an overview good enough to enable an overlook of the whole field. An easier question to answer might be: "What was the biggest disappointment in your portfolio"?

My two worst performers were MLNM coming in at - 39% and Icos with -31%. Both companies shared a similar story. They have approved drugs and there were expectations for a fast ramp-up in sales and eventual profits already reflected in the share price. But, as revenue increases were slower than anticipated, investors started to concentrate on the bottom lines instead. And they were very red, indeed. Whereupon there was a price correction.

The lack of any late-stage pipelines didn't help either. Instead, I guess the lack of near-term approval prospects helped to concentrate the collective minds on the numbers.

Erik
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