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Biotech / Medical : Biotech Valuation
CRSP 53.20+3.1%9:46 AM EST
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To: michael97123 who wrote (5294)12/31/2001 11:32:14 AM
From: Elmer   of 52153
 
<A 50% haircut from the highs should create reasonable entry points given that the drug is for real>

I think a better measure is when 70% or more of the total float (namely, 50 million shares is the float) turns over. The theory is that the stock with the bad news out is currently under accumulation by more value oriented buyers who are more inclined to hold and wait. The sellers are the momentum crowd who aren't.

All this said, the stock has another big leg down if a full Phase III trial is required by the FDA regardless of how much stock turns over.
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