Lost In The Jumble:
To: (3046 )
From: +Junglejim
Monday, Aug 17 1998 12:24AM ET
Reply # of 3155
*******, Do you remember Genetech? The company completed an IPO in the early 80's. The company was
priced at $7.00 and by the end of the day had traded as high as $77.00. No one knew their scientist or
understood genetic engineering, [DNA was unheard of], and it was four years before the company earned 1
penny. This is the world of biotech and if you and the rest of the nay sayers do not understand this you need to
worry about something you do understand.
The Reality:
Subject: Cryogenic Solutions Inc. (CYGS)
To: Junglejim
From:
Aug 17 1998 9:12AM EST
Reply #3058 of 3155
Jeffery, Do you remember Genetech? The company completed an IPO in the early 80's. The company was
priced at $7.00 and by the end of the day had traded as high as $77.00. No one knew their scientist or
understood genetic engineering, DNA was unheard of, and it was four years before the company earned 1
penny. This is the world of biotech and if you and the rest of the nay sayers do not understand this you need
to worry about something you do understand.
Mistake 1: The company was "Genentech", not "Genetech"
Mistake 2: Genentech was founded in 1976, four years before they IPO'd, and built up a documented track
record of strong research.
Mistake 3: The IPO was priced at $35, not $7, and went as high as $88 in less than an hour.
Mistake 4: Genentech was founded by a partner in a premier VC firm who hooked up with a widely
published and acknowledged pioneer in the field of recombinant DNA, not some guy involved in an insurance
fraud working with an anonymous guy in a lab in Kansas.
Mistake 5: Genentech licensed their first of many products to Eli Lilly in 1982: human insulin. I presume
they never had a problem earning money
Source: genentech.com
It truly amazes me how you can be so confident about something without doing a shred of research. I truly
hope all CYGS shareholders have a better grasp of the facts than you.
- Jeff |
