Biotechnology Value Fund, L.P. Message Board

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Biotech / Medical : Biotechnology Value Fund, L.P.

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To: scaram(o)uche who wrote (1016)	10/19/1999 2:25:00 PM
From: scaram(o)uche	Read Replies (3) of 4974

Just heard some commentary/reporting on CNBC regarding today's internet-related IPOs. The second largest ISP in India went public today. It was priced at the top of the proposed range, and is currently trading at better than 100% above that. Sigh. Probably 10 million shares at 14. What has this world come to? Who is going to suffer when rationale returns? Joe and Mary Public? Are they going to lose their homes, or will they be nickel and dime in the market? I presume that it's too much to ask that the guy/gal who wants an IPO, any IPO...... the momentum trader who doesn't care about actually reading the prospectus...... it's too much to ask that he/she be the one that gets stuck? Meanwhile, we have a company that has (1) recently rec'd a milestone payment for having successfully developed a large animal model for xenotransplantation, and (2) recently described a patient carrying an allogeneic kidney without immunosuppressive drugs.... trading at a research premium of about $25 million. The world is nuts.

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