Cistron Biotechnology(CIST)$.30 Message Board

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Biotech / Medical : Cistron Biotechnology(CIST)$.30

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To: John Metcalf who wrote (600)	4/23/1997 8:05:00 PM
From: Vadim D. Marchenko	of 2742

I think you can also add to your valuation a significant accumulated tax credit, which will be of value to an acquiring company, which either has or about to have positive earnings. The only problem I see with the "quick" release of the intrinsic value is that the typical bid has to be in the range of about 3 x the current price. So, it seems the minimum total price for which CIST could be now acquired is about $22 M,which is still cheap on a price to book basis compared to the biotech industry averages, but probably not enough to attract acquisition with the purpose of cashing in on immediate selloff of all the CIST pieces. I am sure CIST management is aware of that. However I find it hard to believe they would simply let the CIST stock bounce in the $.2 - $.3 range w/out trying to put together a paln to increase the value of the stock ( considering the size of their positions in CIST ). Will just have to wait for CIST PRs to see what their game plan is.

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