Sorry, Barry you could not be more wrong. In your last two post, your relative valuation of Viracept toward the company and in relation to other companies is riculous. Please consider a few ponts, AGPH valuation is almost entirely based on Viracept, and it has been for a very long time. its cancer programs are not recognized by the street. Why would they when they can focus on the cash cow blockbuster drug that has revolutioned (as a class) the treatment of AIDS. Revolutioned, yes!! Why have we just recently had the first drop in AIDS deaths, it is because the cocktail therapy. Would you like to guess how many lives Crixivan has saved?
1. First thing, VRTX mkt cap is 600M not 700M, that being said it is still undervalued. lets look at this. It's valuation is largely based on the possibility that they can bring a PI to mkt in 2-3 years that hopefully will be as good as Viracept. As VX-478 approaches approval, their shares will undoubtedly rise as AGPHs did, mkt cap approaching 1.5B when they do (this may still be 2-3 years away). As of Oct 3, AGPH had a 996M mkt cap---their mkt cap is 396M more than VRTX, but then Again they already have their PI approved, set up a highly effective sales force, penetrated the mkt, and will soon have sales approaching 500M. Their mkt cap is only double the expected revenues for 1999. Yeah, I think we will make a new High (56.5) soon.
2. Your estimate of 200M, for AGPH if they did not have Viracept is absurd. In fact, a company that looks very similiar in research and pipeline to AGPH (without Viracept) is British Biotech (BBIOY). They also are working on a MMP inhibitor similiar to AG3340. They currently have no sales, however the few cancer drugs they have in early research phases are very promising. They have a great pipeline, nothing like a cure for the common cold like AGPH, but their cancer drugs are very promising! So promising, I was intersted especially if they only had a mkt cap of 200M, what you suggest a company like this would be worth. THEIR MARKET CAP IS TWO POINT TWO BILLION, 2.2B-NOT 200M. Their mkt cap is 2.2 that of AGPH and what are they currently selling, a pipeline.
When this stock skyrockets to 70-80 this year, I will be right here rubbing it in against all the experts, shorts, and manipulators! |
