The sponsor mentioned the hot companies, of course. More to the point is the ASCO meeting in a week. That's a scientific meeting where clinical results are presented, not an investor dog-and-pony show. You might look at PCYC, a non-angiogenesis company with a PDT approach to cancer, which seems to be moving up in anticipation.
I think that investors have finally become receptive to the biotech companies. Perhaps it's Entremed, maybe photodynamic therapy, maybe genomics, robo-chemistry, angiogenesis, protease inhibitors, etc. The bare fact is that biotechs have advanced light-years, and are still selling for 70% of their 1992 value. Investors seem to be willing to look at the stories now, perhaps because everything else is relatively expensive -:) |
