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Biotech / Medical : Biotechnology Value Fund, L.P. -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (871)	8/19/1999 3:11:00 PM
From: Mozart	Respond to of 4974

sorry...

To: scaram(o)uche who wrote (871)	8/20/1999 10:09:00 AM
From: scaram(o)uche	Read Replies (1) \| Respond to of 4974

As most are aware and as I've mentioned several times, we have an unprecedented delta between the second tier and the mini- and micro-caps. As we also know, many of the valuable patents and future products lie down in the depths. Of course, we can also add the fact that the first tier is now valued on a par with small pharmas, and given a biopremium at that. So, what's happening? In the past few days, we have at least two companies (CBST and TTP) with phase III projects that are driving to cut down on the delta. However, the gap is still large. So, while we're pondering the question that follows, it's reasonable to point out that great patents and science are still to be had down in the depths. The question...... is the delta going to be reduced by success in the depths, or is the second-tier collectively going to return to a pre-rally market cap? Tangents.... for those who opt for success in the depths.... would you expect rockets like CBST and TTP, or should we expect slow, grudging progress on the back of data?