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Gold/Mining/Energy : Cangene . TSE.. CNJ
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To: Wallof Confusion who wrote ()7/21/1999 11:32:00 AM
From: DaveAu  Read Replies (1) of 227
 
I think the bid for Hyal is encouraging. I've been hoping that Cangene would start to look at acquisitions given that they are generating a lot of cash and there are so many biotechs trading at low prices because they are starving for cash.

The price looks dirt cheap given that Hyal already has approval in Canada and Europe for their treatment for Actinic Keratosis. Hyal never even started marketing the product because they couldn't find a partner. Cangene has proven marketing ability in Canada and good contacts in Europe.

I've followed Hyal for a long time. They have some good technology but they have never had competent management. Hopefully if Cangene does succeed in buying them out, they'll take the researchers and blow off the management.

BJ
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