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Biotech / Medical : HuMAB companies

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To: aknahow who wrote (160)	5/23/2001 6:01:16 AM
From: nigel bates	Read Replies (1) of 1022

In periods of low interest rates, "cash is trash". It's an interesting perspective, but not one that I share. I agree that in an ideal world, holding too much cash is not financially efficient. The biotech world is far from ideal, though. Given the prices at which some companies managed to raise money last year, they have effectively mitigated the problem of future dilution. To take an extreme example, if you were considering investing in INCY at today's shareprice, would you really rather they had not raised nearly $400m at (a split adjusted) $105.5 per share last year ? That seems perverse to me. Cash is cash, and there is no substitute for it. Today's CRXL news - Message 15840493

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