LEXG-Lexicon Genetics Message Board

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Biotech / Medical : LEXG-Lexicon Genetics

LXRX 1.380

+3.0%

Nov 5 3:59 PM EST

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To: nigel bates who wrote (114)	4/24/2002 4:02:54 PM
From: keokalani'nui	Read Replies (1) of 254

Now in the Ls. The Ks were so yesterday. 2 years since IPO. Several validated biologic targets (but some only in ko mice); however not even one compound ID'd for preclinical development. Most advanced program is in 'lead optimization.' No criticism, it took advantage of favorable public markets. It might not have made it out today. It is going to need big money sooner than I thought. $123m unrestricted cash 12/31/01. '01 operating loss was $43m (which ought to go up in '02). Actual '01 spend rate was $74m and if incy, or bms or mrck reduce their participation in the databases....then the losses go up even faster. Stock seems vulnerable to return to 52-week lows, and there is no near-term (1 year) upside catalyst that I can see. Would move up with any improvement in overall sentiment, however, considering apparent quality of work. I can't call it a bargain, but would like to hear other opinions. My benchmark for value is still 3DP. Wilder (Anyone who can guess which BT I own in the Ms can front run my...possible...trades.)

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