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Strategies & Market Trends : Take the Money and Run

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To: Jorj X Mckie who wrote (3680)	6/18/2002 10:08:30 AM
From: Dave Gore	Read Replies (2) of 17639

Jorj, Biotechs almost by definition, since they are heavy into R&D, rarely have good valuation. Don't forget, they are a different animal; you are buying promise of a blockbuster drug or drugs. They often do well in advance of drugs being released. We all remember how hot this sector was a couple years ago. It was not deserved but it was really in vogue for awhile and huge profits were made. IMNX was a biotech at $1+ and raced to $90 after its blockbuster drug Enbrel came out. AMGN is up 5,000%+ since its early days not that many years ago, etc. MLNM is one that has announced profit expectations and now has a healthy pipeline after it CORR Therapeutics acquisition. They were granted fast track status for thier cancer drugs by the FDC and have drugs in production now. MLNM raced prematurely from $5 to $90 the last couple years (prior to the CORR acquisition) and now is back to $13. Some, maybe not you, may want to keep an eye on it. It has been shorted heavily from much higher levels and the BTK is getting some positive press again.

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