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Biotech / Medical : Cell Genesys (CEGE)
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To: Icebrg who wrote (1126)5/20/2001 2:30:35 PM
From: Londo  Read Replies (1) of 1298
 
One can make the argument that the $200-$400M valuation has already been reached - if you take the stockholder's equity of CEGE as of Q1-2001, and adjust it for ABGX's recent price increase.. subtracting the 40% tax allowance leaves $436 million. Current market cap is $665M fully diluted (37M shares), which leaves a so-called 'market value' of $229M.

CEGE all but telegraphed that they will liquidate their ABGX stake in the most tax-efficient manner possible, so this (worst-case) scenario is probably invalid.
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