Genomic Solutions-naz{GNSL} Message Board

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Biotech / Medical : Genomic Solutions-naz{GNSL}

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To: tuck who wrote (84)	10/20/2001 5:11:37 PM
From: smh	Read Replies (2) of 93

Tuck, One thing good about this off-the-beaten-path BT thread is that even I can post without having to worry about boring anyone. I'm tempted to engage in self-flagelation here, but suffice it to say I am rather disgusted with GNSL, starting with the lousy way I have played it. Less than a year ago my biggest concern was that PKI would do a buyout @6.75! Sheesh! GNSL had caught the wave and appeared to be in good shape to ride it for at least awhile. I really liked their business model, including their comprehensive approach and complete systems, but at the same time the recognition of the need to build the consumable demand base. The PKI relationship was a fiasco from the beginning, made worse by GNSL's apparent run down the edge of the ethical playing field. Looks like PKI decided to get even. Then there was what felt to me like two waves of sub-sector warnings and finally 9/11. Frankly, I have never really understood the magnitude of the slowdown in the sub-sector, despite your chronicle of events on TRICKLE. Its bad enough that I have been forced to accept the reality of the linkage between the NAZ and BT prices (which exists in part because the elephants like it that way). Now I need to comprehend that a slowdown in the economy results in a broad based slowdown in proteomic research? If we don't see a significant pickup in Q4 cap ex for genomic/proteomic equipment, I am going to be genuinely baffled. I don't know what to think about GNSL at this point. As I've admitted before I don't really understand its competitive position (if anyone reading this who uses this type of lab equipment and/or otherwise has a handle on this issue, your thoughts would be very much appreciated). With the current "lack of visability", I am lost and have (belatedly) started scaling out. To me the restructuring signals an admission that the short lived high growth days are gone for GNSL. I still think that the smaller benchtop version of their biochip system could be a winner. We should know by the end of the year. Perhaps Jeff Williams can put together a better story than I expect on Nov. 1. There were some totally baseless (Yahoo)rumors of bioterror government contracts; and GNSL made it onto a couple of momentum play lists recently. As far as I know its the only reason for the recent bounce. Regards SMH

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