A fundamental change in the company! This is basically an unprofitable very mature biotech who only tends to make a profit by selling shares in companies that they have spun off, like Target Therapeutics, now part of Boston Scientific. Well, since CGEN is restricted from selling BSX shares for a while, they aren't going to show any profits for a while it seems. Sure do appreciate them settling their lawsuit with MATX though as it has helped MATX to rocket up some. I think that CGEN lacks a basic market faith in their management, and that this is reflected in the share price. Glad I got out when I did, and that we even made money (on paper) short selling it in the VD Biotech Model when BSX was tanking badly. As I stated before, I sure wouldn't want to work for this management, and that to me is not a good sign for a biotech. It's hard to make money puffing up lips and wrinkles, and it seems that the breast implants are a ways off from being profitable too. Also, the way that CGEN just sold the TGET shares and paid big taxes on them was not a very shareholder friendly way of disposing of the shares. Vector 1 said that their were much more tax friendly ways of dealing with this and that CGEN doesn't seem to take the interests of its shareholders to heart. V1 knows about this stuff, that's what he does professionally. Too many better deals for me out there to be sitting around waiting for CGEN to produce.
Did you catch the lip implant sight gags in the movie the First Wives Club? Absolutely hysterical scenes with Goldie Hawn who gets her lips puffed up huge for it. Really made a mockery of the whole concept.
Dave |
