LSBC -- Large Scale Biology Corp. Message Board

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Biotech / Medical : LSBC -- Large Scale Biology Corp.

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To: tuck who wrote (15)	4/10/2001 4:19:41 PM
From: scaram(o)uche	Read Replies (1) of 144

The dotcom equities structure spread to biotech. Companies came public with a much larger number of shares out than was the tradition. The lockup overhang is enormous, compared to the old days. Insiders can sell fewer shares to gain the same wealth. While many of the dotcoms made it through lockup with valuations intact, the lesson of what happened post-lockup beat biotech to the punch. Combine that with the special tax situation that option holders now face......... it's got to be demoralizing for insiders. Plus, add the moron fund managers that were buying into February 2000 valuations and the subsequent IPOs. What's it add up to? VC-like returns in the public market. If one picks wisely. ;-)

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