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Biotech / Medical : Biotech Valuation
CRSP 55.52-8.7%Jan 23 9:30 AM EST

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To: scaram(o)uche who wrote (876)3/21/2000 2:07:00 AM
From: Doc Bones  Read Replies (1) of 52153
 
Most people would single out the wild run-up / run-down of genomic stocks as the biggest excess of the biotech fever. And yet it's interesting that it took this craziness to get Incyte a reasonable valuation relative to its peers.

I'm sure you early backers remember when you couldn't give INCY away. "Failed Business Model", "Revenues Will Steadily Decrease", and the end-of-the-world preliminary patent ruling.

It wasn't until the momos and newbies invaded that INCY came into its own. The market moves in mysterious ways: bouts of folly mixed with flashes of brilliance.

Doc

(Now if I could just tell which was which ...)
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