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Biotech / Medical : Biotech Valuation

CRSP 55.23

-0.1%

9:54 AM EST

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To: zeta1961 who wrote (10078)	1/20/2004 9:37:20 PM
From: John Metcalf	Read Replies (1) of 52153

Miljenko cites "history", though he's a relative newcomer to the discussion-:) Message 202670 At the cost of my own embarrassment, please look at what the prospects were for PCYC, 7.5 years ago! Gadolite was buried at night, as Peter says. No cash cow, and very little in the way of explanation. In the long-ago-before-time, some of us read the original work of Katherine Woodburn of Australia, and Jonathan Sessler of Illinois. It seemed to be higher quality basic research than the other photodynamic therapy work. And the targets were higher quality -- cancer for PCYC, vs. acne for DUSA and age-related macular degeneration for QLTIF. With the help of very smart friends at SI, I gave up on PCYC for a substantial gain when the plan did not materialize. After this much history, they'd have to alchemize gold from seawater before I would invest again. John

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