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Biotech / Medical : Biotech for less than cash value

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To: fred hayes who wrote (219)	5/2/2005 6:15:07 AM
From: nigel bates	Read Replies (1) of 684

These folks don't have any incentive to "bleed" the company... Inertia, and the triumph of hope over experience ? Certainly, the CEO's immediate reaction to failure in the clinic doesn't inspire confidence on that score - ...John McLaughlin, president and chief executive officer of Corgentech. "We are fortunate to have a deep pipeline of products to choose from and have the ability to generate new product candidates very rapidly. Corgentech's NF-kappaB (NFkB) Decoy, which was generated in just five months, will enter the clinic shortly for eczema, and we plan to select our next clinical candidate in the second half of this year."... If they were smart, there ought to be several interesting-but-cash-starved pipelines at a later stage of development they could hook up with to the benefit of all concerned, but I suspect the 'not-invented-here' syndrome will win out.

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