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

To: scaram(o)uche who wrote (147)	10/21/1999 2:24:00 AM
From: jeffbas	Respond to of 438

Listened to the conference call: -Their patent attorney spoke. It was very unambiguous as to who will have the rights to aaATIII. -I was pleased to hear that the $60 million raised was separate from their GENZ equity line of credit. This means that they really have 3 years of financial needs covered. -The presentation of their strategy and initiatives sounded excellent, but was largely above my head. Any expert more informed comment? I was disappointed that there was no comment on the progress of trials, specifically the melanoma trials. I thought Henri's comment that by virtue of the nature of the disease what you see in early trials tends to be what you see later was exceptionally interesting. If true, it would tend to mean that you should waste less time and money on poor initiatives. The John's Hopkins prostate cancer work evidently just out 10/15 in CANCER RESEARCH (using a first generation vaccine), which they will acquire with the CEGE deal, sounded interesting, but what do I know? I guess the key question using Henri's words is what is an appropriate market cap for an "exciting, broad-based, deep" and adequately financed cancer research company with 4 products in trials, and a research strategy which extends over most cancers. Right now it is about $150 million with $60 million cash, which sounds low to me considering it would be billions if they ever deliver a product to market. Experienced comment would be much appreciated here. Are there any comparables besides ENMD at $325 M market cap (which I would certainly switch out of for GZMO)?