Cell Genesys (CEGE) Message Board

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Biotech / Medical : Cell Genesys (CEGE)

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To: Mama Bear who wrote (982)	7/10/2000 10:58:43 PM
From: david james	of 1298

CEGE had 4.852 million ABGX shares before the split, so they now have 9.704 million shares. At $70, that is valued at $680 million. They also had $250 million in cash at the end of the first quarter (which generates $1 million in interest each month). They also have liabilities of $66 million and about $6 million in other assets (buildings etc). biz.yahoo.com The company has set up a provision for income tax of $47 million against the $200 mill gain. However, it is likely that the NOLs will be able to offset most of this. I talked to the CFO, and he said that they were taking a conservative approach to the NOLs. However, I believe that if the NOLs do get used (as expected) then we will see a gain of close to $30 mill in the 4th quarter. They should be receiving payments from Japanese Tobacco as well as relatively large milestone payments when they get through stage II on the prostate trials. Aventis may also be making some payments shortly. The big European trial of Transkaryotic/Aventis versus Amgen over Epogen will begin in January, and it has been said that they should have a much greater chance of success. Currently Epogen has sales of close to $2 billion in Asia and Europe.

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