AFFYMETRIX (AFFX) Message Board

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Biotech / Medical : AFFYMETRIX (AFFX)

AFFX 14.01

0.0%

Apr 1 5:00 PM EST

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To: rairden who wrote (775)	8/29/1998 8:34:00 PM
From: Andy Patton	Read Replies (1) of 1728

This doesn't establish a "real" value for AFFX, but, in looking through their last annual report: The weighted average exercise price per share of options was : $11.263 So, on average, AFFX employees thought that AFFX was worth more than $11.263 (otherwise, why buy?) The weighted average fair value of options granted during 1997 was $14.01 (using the Black Scholes model.) These (obviously) are guesses at AFFX's value: but they at least are useful indicators of what AFFX insiders think. So AFFX must be seen from inside as worth more than $11.26 at least (otherwise options aren't worth exercising.) And likely it's seen as worth more than $14 (otherwise the options aren't worth anything to you.) So perhaps AFFX at $18 is a pretty good (i.e. almost insider's) price. Good luck to all, whether knife-catchers or not, -Andy Patton

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