Richard,
I see some problems with the plasma fractionation business. But it has one big advantage; it appears to be churning out green stuff. You know, the stuff Mr. Greenspan plays around with.... And it would seem to me that they have an excellent opportunity to get samples of all sorts of interesting things in the process. Like material that could be used to make vaccines. And as long as it keeps making money, it seems a good enough business to be in. Note that NABI is now running in the *black*. What an awful thing for a poor little biotech to do.
As far as valueing the company, I'm ignoring the fractionation business. To me, it's main purpose is to provide cash in the till to fund the vaccine development. Unless I really can't read, that seems to be what NABI is doing.
I just finished reading a fair amount of material about bovine mastitis and a vaccine that could eliminate the sub-clinical Staphylococcus Aureus induced one would be a *big* hit. While S. Aureus only accounts for something like 40% of the cases of bovine mastitis, it's the most difficult one to control and it has the worst effects on the udder.
It's kind of nice to read papers about hygiene and milking cows. I was introduced to the teat end of a cow when I was around 5 and I actually understand what they're talking about! Yup, I come from humble origins.... :-)
Thanks for the chart; it looks familiar. And I really am poor and I'll take charity anytime :-) I'm so poor that I had to move to Hawaii to find a grass shack cheap enough for my humble means. Ah, I can just imagine the tears rolling down your face..... :-) Now, if I'd just had enough money to buy a few shares of NABI, maybe I could have hired a plumber to put in running water for me...
Sigh :-)
Thanks, Torben |
