Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: orkrious who wrote (55384)	4/23/2002 11:44:29 PM
From: Zeev Hed	Read Replies (1) of 99280

Ork, they still have a lot of cash, but frankly, they belong to the category of "new lows beget new lows". Their burn rate is close to $200 plus MM per year and even with $900M in the kitty, unless they start and find a way to generate cash, they may be trash. I also think that the weakness is sector associated and until the bio-pharma sector gets back to the positive trend, they'll drift down. Before you can expect the speculative biotechs to succeed, I think we will need to see the major pharmaceuticals companies to develop basing and new uptrends, I don't see that in the very near future. Take your loss (you probably can cut a buck or two on a short term bounce here in the next day or two) and redeploy, IMTO. Zeev

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