FWIW, I think MLNM may be just flat. I would avoid TNOX, except with a straddle: Xolair up for review on 5/15. The stock will fly or crater. Of Greenlaw's other picks, I like HGSI and CRA. Don't know much about MYGN. ABGX could run if Iressa is approved on 5/5, as ABX-EGF is similar (ditto OSIP's Tarceva). ONXX, not sure what's behind its run. Possibly they or Bayer are expected to present good data at ASCO on BAY 43-9006; I'd wait till then. HGSI has had some OK trial results, but they are early and priced in, so that looks like a good call. Most of these are cash rich; despite the burn Greenlaw mentions, they'll survive for years. OTOH most of tyhe cash poor biotechs that failed to finance during the bubble have already been duly punished.
Greenlaw, if you're talking about pretty short term plays, and we expect a downturn in that time frame, well, virtually all biotechs will go down.
Cheers, Tuck |
