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Biotech / Medical : Incyte (INCY) -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (1355)	2/23/2000 11:13:00 AM
From: RCMac	Respond to of 3202

Incyte Announces $422 Million Private Placement biz.yahoo.com Wednesday February 23, 6:30 am Eastern Time Company Press Release SOURCE: Incyte Pharmaceuticals, Inc. Incyte Announces $422 Million Private Placement PALO ALTO, Calif., Feb. 23 /PRNewswire/ -- Incyte Pharmaceuticals, Inc. (Nasdaq: INCY - news) announced today that it has entered into a definitive purchase agreement for the sale of two million shares of newly issued common stock to selected institutional investors for $422 million. The purchase price is $211.00 per share. Incyte stated that it expects to use the net proceeds of the offering for working capital and general corporate purposes. Proceeds may also be used to make strategic investments, acquire or license technology or products, or acquire businesses that may complement its business. [snip]

To: nigel bates who wrote (1355)	2/23/2000 2:43:00 PM
From: Lighthouse	Read Replies (1) \| Respond to of 3202

I congratulate the management of INCY fot the sale of 2,000,000 shares at $211/share. What a coup . . . over $600,000,000 in cash in less than one month! The war chest is brimming!!! Investment bankers must be calling them all the time now to do a deal. INCY has market cap and cash do do somehting. Anyone care to speculate on where these guys are going to spend their money? That is simply too vast a honey pot not to tamper with? Diagnostics? Reagents? Microarray? Screening? ABSC? RE Alex Brown. For some prespective: Alex Brown had a 12 month target on INCY of apx. $26 only four months ago. The sagacious analyst is racing to keep up with the stock price. This is analysis? Bully for all the longs! Cheers,