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Biotech / Medical : Biotech Valuation

CRSP 56.62

-0.1%

2:26 PM EST

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From: Arthur Radley	10/28/2009 1:18:26 PM
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(MITI) For those of you with 'nerves of steel', MITI is getting to an entry level that seems appealing, based on the fundamentals. The stock peaked at $8.25 after a run from the $2.00 level. I cut my position at the $7.00 level, but have been adding back with the price now under $5.00. They will be presenting tomorrow at the BIO conference in California, but the mover will be the solid tumor data that is to be presented at the ASH conference in early December. In August they raised $75M and the stock actually went up. They have a $150M shelf registration on the books, should they decide to raise more cash. IMO, the story hasn't changed, but the market is punishing anything in the small cap area. Merely looking at the QID to see the underlying mood for this type stock.

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