>> BVF out of KDUS <<
Well, we knew that they were selling into the strength. So were most of us? I certainly exited, as you know.
But, I went back in.
DEF 14A lists them as owning 725,770 on 5/4, BTW. So, either they also went back in or one or both of the reports is (are) wrong. I suspect the latter, as there obviously hasn't been any demand, 3/31 to 5/4.
:-(
It overshot, before the additional license and PTO office action, its rational valuation on the upside (my targets were given here and/or in the Yahoo thread). Now, IMO, it's overshot a rational valuation on the downside.
I still estimate royalty and license income for 2005 at $16 million. However, Woler didn't do much at the end to take the risk out of relying on OSIP and Solvay to reach those figures, and Glass is making strange statements about buying something.
Find a "phenotyping" effort, in Europe if need be, and sell them on the prospects of writing both the potential milestones/royalties and GPCR platform into a prospectus?? Value added for both entities, and it's done.
The sort of investor who had participated in the original rally is, IMO, also the sort who used to turn up their noses at 3X in two years.
Thanks, Stefaan.... one more piece of the puzzle. |
