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Biotech / Medical : HuMAB companies

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To: Icebrg who wrote (502)	6/3/2003 4:48:06 PM
From: Icebrg	Read Replies (2) of 1022

Abgenix vs. Medarex Two months ago I wrote: "Based on Friday's closing prices Abgenix now has a market cap. that is more than three times higher than that of its rival. (776 mUSD against 248 mUSD according to Yahoo). Historically seen, that is "too much" of a difference." Since then things have changed. Just about to move into the post-ASCO part of the year, we find the following market caps. Abgenix 778 mUSD for a gain of 2 mUSD (!). Medarex on the other hand has done much better and has found its perceived value almost doubled leading to a market valuation of about 480 mUSD. The valuation ratio has gone from almost pi @ 3,13 to 1,62 which is more or less about normal. Erik

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