VICL forecasting net loss between $24 and $28m in 2003.
Market cap is now way below cash + equivalents + marketable securities (and way below bv), even subtracting the prospective $28m loss.
Picked up a few today in the hope they might attract a CALP type bid.
In any event, can't see too much downside.
:-)
VICAL INCORPORATED
CONDENSED BALANCE SHEETS
(in thousands)
December 31, December 31,
2002 2001
(Unaudited)
Assets:
Cash and cash equivalents $32,609 $43,736
Marketable securities 78,904 90,351
Other current assets 5,894 4,636
Total current assets 117,407 138,723
Investment 800 5,000
Property and equipment, net 4,943 5,060
Other assets 6,276 5,712
$129,426 $154,495
Liabilities and Stockholders' Equity:
Current liabilities $10,800 $7,790
Long-term obligations 4,319 4,546
Stockholders' equity 114,307 142,159
$129,426 $154,495
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