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Biotech / Medical : Biotech vs. Shorts -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (129)	8/10/1999 1:00:00 PM
From: LLCF	Read Replies (1) \| Respond to of 427

<I'll therefore stop short of tar and feather. > O.K. how about that wooden contraption with the hands and head locked in so we can all throw stones at him??? -G- DAK

To: scaram(o)uche who wrote (129)	8/10/1999 4:46:00 PM
From: biowa	Read Replies (1) \| Respond to of 427

Rick, Exactly right that one needs to look at the path. As with everything else in biotech, it just seems to come down to management. It seems sometimes the managements who get into trouble with floating converts are the ones who are unrealistic. IMO, that's often why they do a floating convert rather than a PIPE or other private equity (or selling); they don't like the valuation. To which a reasonable answer on the buy side is "OK, we'll do a floating convert, if you're wrong we're still (somewhat) protected." Come to think of it though, perhaps we shouldn't discard tar and feathers just yet. Some analyst conference calls could be livened up if the CEO was on the rack. Torture as part of SEC reporting regs, hmmm... biowa