Biotech for less than cash value Message Board

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Biotech / Medical : Biotech for less than cash value

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To: nigel bates who wrote (107)	9/11/2002 12:45:37 AM
From: Jibacoa	Read Replies (1) of 684

Reportedly is selling at 0.4 of book and below the $2.86 cash/share. (P/C= 0.46 ) The insiders although only holding 10%, have done significant buying and the institutions holding 73% of the shares have also done significant buying. Corvas will reduce its research and administrative staff by nearly 40%, which will result in a third quarter restructuring charge of up to $2.0 million. It seems to have support at the $1.25 and nearest resistance at $1.50 If it can close some of its April 24 down-gap ( gap=5.98 to 3.50)it should provide more than 100% gain from present levels. Bernard

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