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Biotech / Medical : Biotech Valuation
CRSP 61.97-3.2%Nov 3 9:30 AM EST
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To: Biotech Jim who wrote (1520)8/31/2000 10:51:05 AM
From: Biomaven  Read Replies (1) of 52153
 
So they are looking at a roughly $6 billion valuation at the IPO price. That's a PE nearing 40, and a PS just over 1.

Of course the big issue here is a political one - the Frankenfood movement. Sales of GM crops might even trend down for a while, and there is always going to be the risk that some sensation-seeking scientist/reporter is going to exaggerate the results of some experiment showing GM foods doing something bad to butterflies/mice/birds/people. (And of course there is an outside chance that some new GM food might actually prove harmful to humans).

So the stock will likely look cheap and my guess is it will stay that way. My own instinct is that food was a bad place to start - GM plants/grasses would have been better, although obviously this is a much smaller market. No-mow grass (think I should trademark that?) and blue roses.

Peter
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