Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 58.08

+0.9%

3:59 PM EST

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To: Biomaven who started this subject	10/9/2003 5:33:00 PM
From: Madharry	Read Replies (1) of 52153

I dont know if this is under or overvalued and would appreciate any opinions anyone feels like venturing- GENR has candidate for treating macular degeneration called squalamine. the results of a phase I/II test in mexico were positive according to Garren who recommends it. the company has a market cap of some $210MM and no cash. the preferred shareholders exchanged their preferred shares for common stock so it has no significant debt either. I guess the value hinges upon how much someone is willing to pay for the rights to partner in this potential drug. It looks promising but very speculative for something that is not even in phase III. the stock has gone from something like .20 to $6 this year. Personally I dread investing/speculating in companies that have no cash.

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