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Biotech / Medical : Biotech Valuation
CRSP 56.61-0.6%3:59 PM EST
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To: LLCF who wrote (10)2/25/1999 2:30:00 PM
From: Biomaven  Read Replies (2) of 52153
 
David,

The CEPH financing is certainly unusual for a small biotech. It's pretty aggressive, but does keep dilution to a minimum. (There is some potential dilution because of the warrants). I worry that it's fairly short term - just 3 years before they have to come up the cash to repay the loan.

It's the sort of move that in hindsight will be seen as either brilliant or dumb. I wish I knew which. The stock sure is looking cheap. The big question here is whether Modafinil is going to work for other indications (like ADD).

Peter
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