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Biotech / Medical : Cell Genesys (CEGE)
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To: John Madarasz who wrote (1104)4/1/2001 6:56:18 PM
From: Londo   of 1298
 
Although technically you may be correct, I should point out that $8/share falls significantly under book value, assuming Abgenix stays around 20 bucks a share.

CEGE asset value assuming $250M cash, 8.95M ABGX shares at $20/share, and 37M shares outstanding = $11.60/share..

So there's some fundamental floor at around that level, although obviously it would not be unforseen that they do trade below this level.. MAXM is trading under cash value, although obviously having your lead candidate blown out of the water isn't what happened to CEGE quite yet. :)
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