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Biotech / Medical : Sepracor-Looks very promising

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To: synchro who wrote (2606)5/4/1999 12:16:00 AM
From: RCMac  Read Replies (1) of 10280
 
>>Its R&D is funded, as of now and the foreseeable future, by investor charity.<< ???

Well, actually, since it sold $300 million in convertible debentures in December, SEPR has a half billion in cash on its balance sheet, enough to pay for a lot of R&D at its current rate of something like $100 million a year (not to mention the several hundred million being spent each year on development of SEPR's ICEs by Schering, J&J, Lilly, etc.).

IMO, SEPR is worth a lot more than >>one sixteenth of Amgen's market value<< SEPR's pipeline is superior, and the risk of FDA non-approval of SEPR's ICEs is much smaller than for AMGN's pipeline candidates.

--RCM
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