Neurocrine Biosciences (NBIX) Message Board

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Biotech / Medical : Neurocrine Biosciences (NBIX)

NBIX 147.22

+0.3%

10:37 AM EST

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To: Spekulatius who wrote (740)	5/28/2001 10:00:13 PM
From: scaram(o)uche	Read Replies (1) of 1834

I just generally think that the risk/reward ratio for NBIX is not that good any more. It's frigging enormous. Yes, there is substantial risk. But the ratio is just fine. Miljenko, at a current market cap of 930M$, NBIX is not cheap any more. What would a pharma pay for the predominant patent position with respect to CRF receptor antagonists? What would they pay for it in the context of an established (and respected) neurology R&D infrastructure? What would they pay for it and the infrastructure if the company had advanced NBI-34060 to phase III trials (giving myself the break of September dreaming)? What would they pay for it, the infrastructure and NBI-34060 if the company also had several distinct GnRH antagonists? Etc., etc., etc. At $930 million, NBIX is dirt cheap. Lyons et al. could sell the company for that tomorrow, to any one of several suitors. Respectfully, you are just plain goofy wrong. A research premium of about 800M, price to book of 6...... my how times change! One of the premier research organizations in the world, advancing therapies for a number of diseases, and it's regarded as expensive at a market cap of under $1 billion. Sheesh.

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