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Biotech / Medical : VD's Model Portfolio & Discussion Thread

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To: Andriy Turhovach who wrote (5659)	9/25/1998 12:53:00 PM
From: Rocketman	Read Replies (2) of 9719

Hey Maineac, Thanks for the interesting reading! One suggestion I have though is to put up a link to the source so we can maybe follow Jubak on our own. ICOS??? This guy seems out there on this one. As V1 pointed out a couple of posts ago, there is some ugly dilution in the warrant situation with this one and they are basically out of cash. The profile I see shows $14.5M cash at the end of 2Q with about a $9M burn per Q. This one won't make it much farther without a round of fund raising, creative or not. Sometimes creative fund raising is just a way of disguising the dilution ala the warrant situation. Yes they have Rathmann and Gates behind them, but the realities of the market just don't support a billion dollar market cap for a company in this stage. They suffer from big names and Viagra wannabe overvaluation and I think this bubble will bust in the short term. Over the long term I am more favorable towards them, but think that if you are looking at them long term that you'll be able to pick them up much more cheaply in the future. I think ICOS is a great short! Rman

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