Institutional positions were rearranged last quarter with the overall effect of almost no overall change to institutional holdings. However, the new top holder is a British group I believe (Dresdner), who now owns 7%. Be interesting to hear what the manager of that fund has to say about Cell Genesys
insidertrader.com
Also interesting to see the gorillas taking control of Abgenix. Janus now controls close to a half billion dollars of the stock (12%) with Fidelity not all that far behind. Overall, Abgenix institutional holding is up to 65%.
Fidelity also has a stake in CEGE.
insidertrader.com
I suspect these two will be slowly moving ABGX up while a bunch of traders and possibly hedge funds play with the short term volility. Friday was an interesting day for Abgenix. It really appeared as though someone was trying to move the stock down, but they hit a wall at 88 - and someone was willing to buy everything sold at that price.
Right now, since we are trading near book, we are at an interesting position. If Abgenix moves up, we move up. If Cell Genesys technology and vaccines get some press, then we move up. Or if any of the companies with revenue sharing agreements succeeds, then we go up.
TKTX is one example. They are using CEGE's technology (along with Aventis) to produce Epogen, and if they can win their battles with with Amgen - either here, in Europe or in Asia, CEGE will end up with quite significant revenues. The battle in the U.S. is unclear - but the battle in Asia and Europe (where $2 billion in revenues is at stake) is more likely to favor TKTX and Aventis - and therefore CEGE.
This weekend, TKTX received $100 million in equity financing suggesting their is some belief they will succeed.
biz.yahoo.com
"The patent suit probably won't affect attempts by Transkaryotic and its partner, the European drug giant Aventis, to break into the European and Japanese markets for Epogen, worth perhaps $1 billion each."
dailynews.yahoo.com
"
The license agreement with Aventis Pharmaceuticals provides access to Cell Genesys' gene activation intellectual property for gene-activated EPO
and a second undisclosed protein. In exchange, Cell Genesys may receive up to $26 million in milestone payments and fees in addition to
royalties on potential future sales of these two gene-activated products. To date, Cell Genesys has received over $15 million from the license
agreement with Aventis Pharmaceuticals and a total of more than $23 million from its entire licensing program for gene activation technology."
David |
