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Biotech / Medical : Biotech Valuation
CRSP 56.71+0.4%Dec 24 12:59 PM EST

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To: IRWIN JAMES FRANKEL who wrote (5036)12/6/2001 8:32:16 AM
From: IRWIN JAMES FRANKEL  Read Replies (2) of 52153
 
MLNM and CORR

It looks like MLNM is doing the same thing that MEDI did when it bought AVIR. It is down 5 in pre-market trading.

MEDI was a lock because it was already fairly valued - IMO.

This one has more risk because MLNM has run up so strongly (16-35).

But a 5 point drop in MLNM represents about a $1.1B decline in market cap. Compare that to the 55 million shares of CORR at 30 or about $1.65 billion. Buying MLNM is like getting CORR thrown in for $.55B.

I will likely play this one after the market opens. More later.

ij
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