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

To: dalroi who wrote (485)	12/28/1999 11:05:00 AM
From: Biomaven	Respond to of 52153

Stefaan, There are plenty of examples where the street applies a haircut to an investment in another quoted company. Here's an example from the internet telephony area: Put another way, ITXC is worth $19 per VocalTec share, while VocalTec, of Herzliya, Israel, currently trades at 13 1/4. Often people will play a premium for the "pure play", particularly in this overheated environment. I fell into this trap myself earlier this year, originally buying CEGE instead of ABGX. I got to grumble plenty as ABGX climbed and CEGE stayed put until I finally "saw the light" and switched. So rationally speaking you may be right, but rationality is not where these stocks are right now. Peter