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Biotech / Medical : Celgene-CELG

CELG 108.24

0.0%

Nov 22 4:00 PM EST

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To: Biomaven who wrote (183)	12/1/1998 9:43:00 PM
From: Miljenko Zuanic	Read Replies (1) of 804

Peter: <<If I'm right, the stock is very cheap at these levels, although CELG will probably need one more trip to the financing well. >> I agree that based solely on thalidomide stock is cheap and that another financing is very possible. However, as you know last finance was ~9 MM debenture for ~800K common. This is only for two Q! So, my question is why finance for only two Q when VC was offering bigger support (according to rumor). I have four scenario: 1. Company is anticipating stock price rise and additional financing will be less dilutive to current SH. 2. Company is planing for another secondary because of the growing interest. 3. Company anticipate significant thalidomide revenue so burn rate will decrease significantly or maybe cover company expense, positive zero! 4. Company is negotiating partner(s) for US (+)-Ritalin right, SelCIDS, thalidomide analogue and expect significant cash infusion from licensers. Normally, I am not crazy enough to exclude 1. and 2. scenario. Still, based on current development and trend in life science scenario 3.& 4. are not far away from reality, imo. Miljenko

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