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Biotech / Medical : Biotech Valuation
CRSP 56.00+8.5%3:59 PM EST

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To: Ian@SI who wrote (6307)5/10/2002 9:46:10 AM
From: Biomaven  Read Replies (3) of 52153
 
Certainly some of the current trading is being driven by people who don't know anything about biotech. As an example, VPHM just got hammered because (surprise!) the FDA came out with a non-approvable letter. (I just re-entered the stock in a small way this morning).

But until the NASD recovers I don't see much in the way of recovery for biotech stock prices either. In the way of fundamentals I see three key events - ASCO (but a lot of this may be in the market already), BGEN's Amevive AC meeting later this month and the Flumist application. I figure Amevive and Flumist are both too close to call.

Peter
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