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Biotech / Medical : Biotech Lock-Up Expiration Hell Portfolio

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To: tuck who wrote (582)	1/10/2002 2:27:35 PM
From: tuck	of 1005

BLU HP notes INGN is settling back after it's little run. Now most of the "value" added from it's recent clinical results has gone from the market cap, and BLUE HP feels it's getting cheap again. Waiting for the NAZ to weaken and take some biotechs with it for further entries, but hoping to start nibbling INGN under $4.50. Meanwhile, the public financing window is opening a little further: >>BAGSVAERD, Denmark, Jan. 10 /PRNewswire-FirstCall/ -- Novo Nordisk A/S (NYSE: NVO - news) today announced that ZymoGenetics, Inc has filed an amendment to its registration statement on Form S-1 with the United States Securities and Exchange Commission (SEC) in preparation for an initial public offering of common stock. ZymoGenetics contemplates an offering of 10 million shares with a potential overallotment option (green shoe) of additionally 1.5 million shares. The price range has been estimated at USD 16-18 per share. There is no assurance that such offering will be completed or, if completed, that it will be completed with the number of shares or the price ranges indicated in ZymoGenetics' latest filing. Novo Nordisk is the largest shareholder in ZymoGenetics, holding approximately 47% of the total capital on a fully diluted basis. If the offering is completed with the indicated number of new shares issued, Novo Nordisk will hold approximately 40% of the capital. If the offering of new shares in ZymoGenetics is completed within the price range indicated on the front cover of the amended Form S-1 statement, Novo Nordisk expects to be able to record a pre-tax income of between DKK 350 million and DKK 450 million in its profit and loss account for 2002. Novo Nordisk will announce its expectations for the year 2002 in connection with the release of its full-year 2001 results on 7 February 2002.<< snip Cheers, Tuck

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