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Technology Stocks : SYNSORB (T.SYB)(SYBBF) CURE FOR CANCER?
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To: Jim Oravetz who wrote (151)12/14/2001 7:52:42 PM
From: John Trudeau  Read Replies (1) of 164
 
Jim, 10-4.

Perhaps some others will add comments.

Here's some quick thoughts:

SYB owns ~6.3MM shares of ONC, which has ~21.3MM shares fully diluted.... or, approximately 30% of ONC. ONC is currently trading at $7.40 / share, and SYB at .59 / share (with twice as many shares). SYB's cash covers their debt, of which only ~23% is due in the next 12 months.

Also of interest, ONC states on their website that they are interested in partnering with a large biotech/pharm company. Well, if someone out there is interested, they can snatch up 30% of ONC for roughly 1/2 of its market price by buying SYB (e.g. .30*7.40 / 2 - .59).... or, for those who prefer the market cap calc: 21.3MM*7.40*.30 / 40MM shares.... or, SYB should be ~$1.18/share. I can't see ONC trading at $3.70 any time soon.

Perhaps I should put in a buy for all SYB stock? Anybody interested in putting together a syndicate?

Ciao 4 now;)

JT
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