Biotech Lock-Up Expiration Hell Portfolio Message Board

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Biotech / Medical : Biotech Lock-Up Expiration Hell Portfolio

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To: tuck who wrote (510)	11/24/2001 10:05:22 AM
From: tom pope	Read Replies (2) of 1005

From Exel's 10Q: We believe that our current cash and cash equivalents, short-term investments and committed funding to be received from collaborators will be sufficient to satisfy our anticipated cash needs for at least the next two years. EXEL had a bit more than $130M in cash and s/t term investments at 9/30. Since GNOM is not likely to be a cash drain (EXEL is not retaining GNOM personnel) it looks like EXEL just bought itself between 1 and 2 years of liquidity in return for stock. Unless there's something I'm not getting, looks like a pretty good deal.

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