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

To: Torben Noerup Nielsen who wrote (679)	2/21/2000 11:17:00 AM
From: biowa	Respond to of 52153

TNN, Can I suggest something like "<Cato paraphase>" would now be sufficient? You're hogging bandwidth <g>. Back on thread, if we look at the amplitude of each bio "boomlet" over the last decade, they keep increasing (and yielding on the order of 10-20% annualized peak-to-peak, somebody check the math PLEASE). Therefore with the long-term prospective, IMO the sector will not lose you money at these prices over the long-haul. Individual results will vary. Therefore IMHO you should choose your exit targets with an eye towards optimizing your cash hoard for the correction, not a fear of losing money in the long-haul. In other words, I may wait for MLNM to get to 600 <g>. BTW, this is not intended as an endorsement of some of the valuations in this sector - I'm already on record as saying they're fundamentally unsupportable. But sector isn't trading on fundamentals right now and I don't want to sell my shares to some newcomer who resells them 3-5x north of here (I'll only let them have the last 25% <g>). Isn't it fun to be having this debate rather than, "Why can't biotech get respect?" biowa

To: Torben Noerup Nielsen who wrote (679)	2/21/2000 2:28:00 PM
From: jeffbas	Read Replies (1) \| Respond to of 52153

Torben, I have seen you repeat that comment on GLIA shorts often. This is the biotech valuation thread. Why would you prefer GLIA over GZSP, which has a decent position in adhesion products with Seprafilm, a real surgical instruments business, a biotech research operation focused on angiogenesis, etc, and a ton of cash - indeed an integrated biosurgery company. For the comparable market caps it seems a much better value. What am I missing? (Please do not tell my because it is a tracking stock, which I consider a valuation positive not a negative.) Also on GLIA, while I would agree that the shorts could not cover quickly without driving the price significantly higher, what catalyst do you see to cause them to do so? Is the earnings report expected to include any positive surprises? (The Prudential target of $25 is not exactly awe-inspiring.)