Cell Genesys (CEGE) Message Board

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Biotech / Medical : Cell Genesys (CEGE)

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To: GregS who wrote (758)	3/11/2000 10:22:00 PM
From: david james	Read Replies (1) of 1298

biz.yahoo.com "Cell Genesys retains 2,426,034 shares, or approximately 12 percent ownership of Abgenix stock, which at the closing price on February 29, 2000 had a market value of approximately $781 million." The CEO gave a really excellent presentation today to a standing room only crowd in San Fran. He stated that it was likely that CEGE would be profitable in 2000, and stated that because of their revenues, they are burning through very little cash (actually said it would take 135 years at the current burn rate to burn through their cash). Also discussed the importance of the patents that they have not only because they generate revenues, but because several companies were collaborating with CEGE because of those patents - and will therefore benefit from the technology they develop. My guess is that last week a bunch of people pulled their money from biotech funds forcing these funds to sell their stakes indiscriminantly. However, with this presentation, I think we are very likely near the bottom. At least I am considerably more confident in my holdings. David

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