BIV featured in Business Week, popped last night in AH on the news, Bernard.
BIV mentioned favorably in Business Week
Business Week comments on well-known investors who are buying Bioenvision (BIV), most notably a 27% accumulation of shares by George Soros. At today's close the stock is trading at $5.18, up 241% from the July level of $2.15. Peter Cardillo, chief strategist at S.W. Bach, says BIV is undervalued not only because of the potential of its two staple drugs, Modrenal and Clofarabine, but also because it could be acquired. A logical buyer is Schering (SHR) or Bristol-Myers Squibb (BMY), he says, adding the stock is worth $10.00 in a buyout. CFO David Luci says BIV is looking for partners and concedes that some big companies are interested. The issue before the board, on which Soros is represented, is whether to go it alone or seek a merger to take advantage of the $1 bln market potential for Clofarabine.. |
