>> For some it makes quite a difference. <<
If the debt is due at some point, say 2006 or beyond, should the difference be ignored? Risk is enhanced with debt, but is it cushioned by diversification, infrastructure, etc.? There is rarely money that is as leveraged as cash used in the clinical testing of pharmaceuticals.
Thanks, very much, for the exercise/effort. Of the bottom seven stocks in the "sorted by tech. value, no fudge for debt" list, there are three companies shown with no debt, VICL, AVGN and TKTX. Marc is an Avigen freak, but do we have any big supporters of VICL or TKTX who could update us?
To the traditional biotech investor, the one who laughs at all of the "how to invest in biotechs" gurus, the non-fudged list is the place to look for gems. This fear of converts/beating down of convert stocks got way out of hand. However, your fudged list looks tempting as well.
A reminder...... biotech investing is like waiting at a bus stop. If one bargain passes by, just wait. There will be another soon.
(preaching, but not to Erik!)
Thanks again!
Rick |
