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

To: scaram(o)uche who wrote (1292)	2/2/2000 9:57:00 AM
From: biowa	Read Replies (1) \| Respond to of 4974

Rick, it was priced at a level that will be difficult to sustain Actually, I thought that $26 was probably fair for a company that is launching its product early this year, IN THIS MARKET. However, IMHO, the job of the investment banker is to test the temperature of the water better than to give up 2/3 of the value at the IPO. That only benefits the underwriters, who next time out can say to their IPO circle, "see how much you made off of that last IPO, this one's even better." We'll have to see how this horse rides once the underwriter's stop IPO management. biowa