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Biotech / Medical : Stressgen (VSE: SSB)

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To: Heat Shock who wrote (187)	3/19/2002 6:17:22 PM
From: Heat Shock	Read Replies (1) of 236

To all: here is the text of Post #4925031 by ender over on stockhouse.ca: Highlight of a report by Ramond James (Investors Digest) and Brian Bapty: We are reiterating our strong buy and 13.50 target price. SSB exited 2001 with a trailing monthly burn rate of 3.8 M and cash on hand of 63 M. Forcast for 2002 is for a monthly burn rate of 3.5 M based on a 20% increase in biochemical reagents. Drug development is in line with estimates. Sucessful development of HspE7 could lead to drug sales in late 2004. Timelines for initiating pivotal studies for genital warts will be substantially influenced by the drug development partner. We are maintaining our estimate that a partnership can be conclude by mid year. Target price is based on a 30 times multiple of the second year of profitability (2006) discounted by 30% to 12 months out. Heat.

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