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Biotech / Medical : VaxGen Inc.-The 1st AIDS Vaccine in Phase 3 HumanTrials

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To: wiz who wrote (138)12/1/1999 10:41:00 AM
From: Brian Malloy  Read Replies (1) of 250
 
Just saying that based on what happened in the early 90's when several biotechs collapsed once it became obvious that nothing/very little was going to emerge through the pipeline. By way of example, I can remember XOMA trading in the $20-$30 range or so in 1991. By '92 it was in the single digits and goes for $3 or so now.

Just consider $3 as a terminal value for biotechs that are relegated to the junk heap. You can spend countless hours trying to quantify the near unquantifiable or go with the 90% solution.

IMHO
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