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

To: jeffbas who wrote (704)	2/23/2000 10:23:00 AM
From: Biomaven	Read Replies (2) \| Respond to of 52153

This is a very significant point that jeffrey is making. A year ago, there was considerable risk in all the lower tier biotechs that they would get squeezed for cash. This potentially would have forced abandonment or slowing down of projects, skimpy phase II's and non-advantageous partnering. Thus in some sense there has been a positive feedback loop - higher stock prices have caused greater capital availability which has in turn enabled higher stock prices. Peter