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Biotech / Medical : Biotech Lock-Up Expiration Hell Portfolio

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To: Extra Pale who wrote (600)	1/24/2002 4:42:18 PM
From: tuck	Read Replies (1) of 1005

EP, What I said. It's intraday recovery surprises me somewhat. Was the knee jerk reaction to sell on the headline and not the body of the PR? Only explanation I have for the wild day. They've got to pay for PIII trials unless they find another partner for it. I have no ideas what the odds of that might be; some BLUE H companies claim to be in talks with multiple pharmas . . . and a year goes by with no deal. My guess is the stock could easily drift back towards the $2s while we and prospective partners await data. Not touching it now. Anyhow, adding PDGM to the WatchList. It has had a wild couple of days, and I've been looking more closely at it as it began to slide noticeably under $5. I might have to listen to the audio archive for details, but its burn rate seems to be in the ballbark of $5 million per quarter. Yahoo! is way off on the cash situation; it should be somewhere near $45 million. This due to a recent financing at $5.50. They have made deals, seem to have some have some interesting niches, and seem to be executing on their deals (i.e. delivered 250 herbicide targets to Bayer). But insider sales bother me. At first, it was mostly early investors and VC bailing. Now high ranking officers are selling, too, at about the price of the recent offering. This suggests to BLUE H manager that a swing trading range of high $3s to $5 is safest for a while. PDGM has its own thread: Subject 51193 The subject post contains the home page link. The site is pretty comprehensive. I would suggest a look at the last quarter PR. I need to do some more figuring, and I am back-logged on conference calls over at Trickle. Busy, busy! Nigel and I would certainly appreciate some help in understanding these guys. They are moving towards a more human approach from an AgBio-centric approach. So maybe nobody here will have that kind of background, but we can hope . . . Cheers, Tuck

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