Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 53.97

-2.0%

Dec 29 3:59 PM EST

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To: tom pope who wrote (1844)	10/18/2000 11:58:51 AM
From: Biomaven	Read Replies (1) of 52153

tom, Yes, I've been playing the CIST arbitrage in a modest way. Spreads are bad, though. KDUS is another BB "value" play. Worst case here is they have to endure an en banc rehearing and the PTO doesn't come through on its proposal to torpedo the patents. I'm fairly comfortable with the odds here, and of course Rick has hopes for the Axiom sub and for the remaining royalty possibilities. Picked up a little SANG in the plunge yesterday. This is a stock that has seemed to be good value for a while, but it turns out it wasn't. It's a prime candidate for institutional tax loss selling for the rest of this month. BXM is another interesting short/medium term value play at these levels. The SEC has finished putting GENZ through the wringer in its accounting treatment of the tracking stocks, and so this merger should go through. Misjudging BXM by writing puts after the merger cost me some bucks - in fact it's about my only significant individual overall loser this year. (Of course I've had some hiccups in individual stocks like GLIA, but even with GLIA I've netted out at about a wash). Not selling more aggressively into the February/March bubble was of course my biggest overall mistake for the year. There are starting to be a few other tax-loss bargains emerging. INCY looking cheap, and I'm going to take another look at SUPG at these levels. Overall I'm pleasantly surprised at how well biotech has held up so far amidst the tech/inut carnage. Peter

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