Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 56.71

+0.4%

9:30 AM EST

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To: IRWIN JAMES FRANKEL who wrote (3151)	3/21/2001 12:44:24 AM
From: Londo	Read Replies (1) of 52153

You were asking if CEGE was really 164% of cash. This is not true. CEGE's balance sheet (at the end of December 31, 2000) consisted of roughly $260 million cash, plus 8.95 million shares of Abgenix stock, currently with a market value of $150 million. So their cash plus marketable security total is $410 million, or roughly 86% of their market cap. Ironically, this is the highest that their market value has been above their cash/ABGX holdings in ages.. they usually oscillate above and below their cash/ABGX stake within a range of about 50 million. Maybe the market is finally beginning to see their potential..

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