Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 53.80

+2.6%

Jan 2 9:30 AM EST

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To: chirodoc who wrote (659)	2/20/2000 7:48:00 AM
From: jayhawk969	Read Replies (3) of 52153

On the subject of valuations, I am increasingly bullish on many of our favorite biotechs (except GLIA)due to the significant capital that is flowing into the market. The view in late February shows many of the biotechs are now sporting balance sheets that will carry them much farther in the drug development process than they could have dreamed - mid last year. This should result (damn well better) in far better, more favorable, deals at the back end. It was barely a year ago that the discussion was around the cash shortfalls for the 3rd tier, and much of the sector as a whole, and the ---yes -----impossibility of raising money ---- in that market climate. Stocks like btrn npsp nbix and sepr to mention a few that have effectively (Rick pick on that term if you like)raised capital, in my estimation, have potentially, at least doubled or tripled the value of their deals on the backside. Therefore, I personally view that a significant portion of the recent valuation increases are justified by the increased financial leverage. Now just a little good news and we might head to mania-heaven. J.D.

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