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Biotech / Medical : Biotech - Technical Analysis
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To: Jibacoa who wrote (525)8/24/2002 1:12:41 PM
From: Jibacoa   of 544
 
SQNM Still is not on an UP-TREND.<g> (The price and the S & M averages are O.K. but the L average isn't as yet.<g>)

The present data:2.60; 2.36; 2.24 & 2.82 ( I would expect for it to hold the 2.25 and continue the up-move on a close above 2.85)

In spite of the 56.7% gain from the Ls this week (on August 20) it is still selling at 0.6 of book and below its reported cash/share of $2.94.

The loss on June 30 was trimmed to $0.04 compared with the $0.39 on the second Q.

The acquisition of Axiom Biotechnologies is expected to result in less than 5% dilution and to accelerate its internal biology, assay and drug discovery capabilities, by up to two years.

They continue to sell their MassARRAY systems at an accelerated pace. They expect to launch a medium-throughput, medium-cost MassARRAY system in 2003, which should broaden the market reach to the larger market segment that does not require high-throughput capabilities.

Their pharmaceutical unit has identified more than 400 high-impact candidate genes , of which at least 40 are high-confidence "multiple hits." They have concentrated their efforts on cancer, cardiovascular and metabolic diseases and a study focusing on breast cancer, is already underway.

The analyst consensus for SQNM has a "target price" of $10, but I would be satisfied with $8.<g>

Bernard
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