Oscient Pharmaceuticals Corp. (OSCI) Message Board

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Biotech / Medical : Oscient Pharmaceuticals Corp. (OSCI)

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To: nihil who wrote (706)	3/16/2000 7:45:00 AM
From: Graham Dellaire	of 1154

As far as valuation, I am glad that some reality has set in. I am fortunate enough to have both business and practical experience in biotechnology (I am a consultant for a private biotech company in addition to my duties as a medical researcher)so my investments are reserved for companies with good science AND profitability (or at least potential if they are very early in their development). I was really worried about the multiples being given to companies which have 5 or 10 year time horizons with respect to profitability. Most investors are too used to technology where product cycles are 12-18 months. Product cycles in a worst case scenario in biotechnology can be 10-20 YEARS! Things are building and in 5 years most of the companies that have good science coupled with ample cash reserves (enough to fund ongoing research and start clinical trials) will be making huge profits. One successful drug can make a company. Look at BioChem Pharma and 3TC (base analogue for HIV treatment) for example. Cheers, Graham

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