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

To: david james who wrote (675)	2/20/2000 10:50:00 PM
From: Biomaven	Read Replies (1) \| Respond to of 52153

David, Right now cash is worth cash, no more, no less. A year or so back, the market looked skeptically at any cash-poor biotech. Right now, if a biotech needs cash, the nearest eager underwriter is a mere cell-call away. (And in fact, the way the biotechs have been performing after follow-on offerings, it's practically a Good Thing if they need money.) Peter

To: david james who wrote (675)	2/21/2000 1:11:00 AM
From: Don England	Read Replies (1) \| Respond to of 52153

david, this is quite a regular question in eln circles. while it may not be purely biotech itself it holds large stakes in many bios: if memory serves me something like 17% of lgnd and 5% of cyto. many others, too, which, on paper at least, equals cash, and it sits on almost a billion in real cash. doesn't seem to matter at all to the market. while eln holders like the co.s position there hasn't been much profit in it yet - those in earlier with a low cost-basis might argue that point. don