Biotech Short Candidates Message Board

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Biotech / Medical : Biotech Short Candidates

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To: Spekulatius who wrote (235)	8/22/2002 10:24:29 AM
From: tuck	Read Replies (1) of 897

The reason for ALKS' rebound is approval in UK and Germany. Though that is expected to narrow losses by only six cents to 94 cents. Investment bankers are looking to establish a relationship with ALKS (Leerink & Swann has publicly said so). My guess is that a few more non US approvals will come & the price will top out when they choose that moment to float an offering. No doubt they'll try to buy back some of the convertible debt with it, but perhaps that depends on the maturity, which I haven't looked at, and the interest rate thereon. If higher than its cost of capital, they'd go for it. I would think that would be the time to short it. Thoughts? Cheers, Tuck

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