Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 56.98

+1.1%

3:59 PM EST

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To: greedsgd_2000 who wrote (1601)	9/12/2000 9:07:47 AM
From: Biomaven	Read Replies (2) of 52153

CALPERS "CORE" BIOTECH INVESTMENT: 500 million Unfortunately $500 million doesn't go as far is it once did. The recent $200 million VRTX convertible alone would take 40%, not to mention the HGSI $1 billion shelf offering. To my mind, the spate of follow-on offerings, while quite logical from the companys' viewpoints, is acting as a significant cap on further price appreciation across the sector. One key question is the mysterious Acqua Wellington. They must have put about a billion into second/upper third tier biotechs over the last year, and I'd dearly love to know if they are long term investors or if they're going to be selling anytime soon. Peter

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