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Biotech / Medical : Biotech Valuation

CRSP 56.51

-2.4%

Dec 23 3:59 PM EST

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To: RWReeves who wrote (1278)	7/1/2000 2:49:30 PM
From: Biomaven	Read Replies (1) of 52153

RWR - Any idea why PHGN fell substantially today? Nope, especially as they are still scheduled to be added to the Russell. OTOH, I've never understood why they have such a large market cap in the first place (38 million shares out). They are at a much earlier stage on their therapeutic products than PCYC. Also don't know why IGEN continues weak. They are trying to present themselves as a screening company, but the market isn't buying it yet. I'm prepared to be quite patient on this one. I'm busy looking <downstream of the genome> as I think this is where the market is going to focus in the short term. Still grumbling about missing LEXG in the very low teens a few weeks back. Peter (Tried to post this Thursday and again Friday, but kept get getting errors. Of course on Friday PHGN and IGEN both were strong.)

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