James:
Companies like AMGN, BGEN, BCHE, GNE, AGPH, etc. started out with science and ended up with nice fat market caps. Some people can differentiate the science that contributes to that heft, and some people can't. At some time, good science mixed with a good business plan translates into big value.
Look at companies like ATHN, NXCO and their ilk. There have been at least 50 of them. It's just that naive newcomers don't know about them. Do you know about just a few of the companies that I've mentioned in the past few days?? Genetic Systems? Selectide? Affymax N.V.? Sphinx? Investors, public and private, have made a killing.
The intent of this thread is to find companies where the "research premium" does not adequately represent the potential of a company, and where it is a small fraction of book value. I am really, really tired of hearing the same worn out dogma. Research and pipelines have value. The trick is to foresee where most of it will surface. If you don't agree, please go start your own "bash biotech" thread. I won't crash it.
I simply said that "I consider some leading science to be markedly undervalued". That's a simple concept, and, further, it is a given.
Rick |
