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Biotech / Medical : SANGUINE CORP. (SGNC)
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To: Hyrulean King who wrote (445)6/12/1998 7:23:00 PM
From: Gwolf  Read Replies (2) of 5402
 
Chief, you know I remember when a little Biotech stock by the name of Genentech first went public and a lot of people said that the company was close to being a fraud because they didn't have any revenues and never would. There were stories in magazines about how investors were going to see there money evaporate in this company. Genentech was the first but here have been many articles written about the pros and cons of investing in Biotechs but interestingly enough they still exist. Today that company sells for $69 a share, it has a book value of $16.87, EPS of $1.11 and a PE of 63.

I'm not suggesting that SGNC is the next Genentech but I do find it interesting how there has always been a long line of doomdayers against this industry and many of these companies continue to exist without revenues. Thank heavens that investors have put money into these companies so that we can have discoveries that have saved peoples lives.

I know that you will have people saying that it's the major drug companies that come out with the life saving drugs, but if you do a little digging you will find that in a good share of the cases it was a little Biotech that came up with the idea and was bought out by the majors. By the time the drug hit the market nobody remembered who originally developed it, the public thought it was than the major drug companies.

Just a thought for the day.

Gwolf
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