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Biotech / Medical : Biotransplant(BTRN)
BTRN 35.45+0.1%4:00 PM EST

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To: scaram(o)uche who wrote (23)7/15/1998 1:28:00 AM
From: Larry Liebman  Read Replies (1) of 1475
 
O.K. Richard...What am I missing? There are 8.5 million shares out. With BTRN at $3 you're talking about a market cap of $25.5 million. As of 3/31/98 cash and equivalents were at $27 million.
In the investor packet they discuss such items as: (a) the Novartis xenotransplantation agreement with an implied value of $36 million (b) the breakout of MEDI-507 into autoimmune diseases like psoriasis- and the partnership with MedImmune, and (c) a 30% equity stake in an Australian firm known as Stem Cell Sciences, which has entered into an agreeement with Genentech. This ignores the primary work of BTRN in organ rejection, with products in clinical trials. I have to agree with your assessment, BTRN looks compelling at these levels.
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