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Biotech / Medical : Biotech Valuation
CRSP 52.51+2.7%3:59 PM EST

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To: BRAVEHEART who wrote (72)3/17/1999 1:16:00 AM
From: BRAVEHEART  Read Replies (1) of 52153
 
OUT IN LEFT FIELD...

An interesting post I picked up at GELX...

messages.yahoo.com@m2.yahoo.com

In particular

"Then there's Immunex which languished for a short while in the 50's even after their arthritis drug approval before catching fire and it is now >150. I don't know about Immunex but Agouron had a lot of short players at it's nadir and a blistering negative article from "The Street.com" appeared in the low 20's which drove it to it's bottom. Anyone see any parallels here:) We of course had the negative article recently in the New England regional section of the WSJ which was totally full of misrepresentations and was obviously written with a lot of imput from the short sellers."

I noted the high short interest at GELX before I came upon this post. Then I reflected how SCIO had a similar situation. On the day of the panels approval the WSJ had a clip which emphasized an analyst which labeled SCIO as " already fairly valued". Again IMO this played into a similar high short position's hands.

Valuation is a funny word...

Jeffrey
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