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Biotech / Medical : Biotech Valuation
CRSP 56.27-0.7%3:59 PM EST

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To: LLCF who wrote (405)9/29/1999 11:22:00 PM
From: Bob L   of 52153
 
When Lehman Bros downgraded CLTR last month, they reduced their bexxar sales estimates for 2000, 2001 and 2002 to $66 million, $137 million, and $182 million, respectively. Substantially less than the $254 they previously estimated for 2002, but still a fair piece of change compared to current capitalization. This estimate included an assumption of larger sales for Zevalin than previously expected. As Peter suggests, this is now the big issue.
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