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Biotech / Medical : Gliatech (GLIA) -- Ignore unavailable to you. Want to Upgrade?

To: jeffbas who wrote (1424)	3/2/2000 12:01:00 AM
From: Mike McFarland	Read Replies (1) \| Respond to of 2001

general anesthesia? Seems like this is the sort of thing that should be inspected by a much less invasive method...and probably is. But a single post off usenet is good fuel for shorts--I'd almost think you were short Jeffrey--but your critical eye is a good thing. Let us get the questions answered! Criticism of management: They do seem to be asleep at the wheel over there at a time when biotechnology is really hotrodding. Those criticisms will look a bit silly if Gliatech is stealthily moving toward a munch. Any chance they've had offers and declined--after all, Adcon line gives them wiggle room. But I agree with Rick's comments--you have to be raising cash in this enviornment, crazy not to grab as much as you can while they giving it away. The real land grab is not the genes, or the tide of targets--it is billions of dollars that are being thrown at the sector.

To: jeffbas who wrote (1424)	3/2/2000 7:28:00 AM
From: biowa	Respond to of 2001

Jeff, I am appalled that clinical trials would involve gratuitously cutting people open twice and potentially killing them to take a look. Could that be true? Also from the GLIA website (check it out sometime): gliatech.com The pilot study was conducted to assess the safety and effectiveness of ADCON©-P in reducing the incidence of post-operative peritoneal adhesions following either minimally invasive gynecological surgery to remove adhesions or uterine tumor surgery. Patient outcome was evaluated by second-look laparoscopic examination of 16 surgical and non-surgical peritoneal sites 14 weeks following surgery. biowa

To: jeffbas who wrote (1424)	3/2/2000 7:41:00 AM
From: biowa	Read Replies (2) \| Respond to of 2001

Jeff, GLIA is not in the same boat as other biotech companies whose stocks have gone up 10 times. Its stock is roughly the same price as before the FDA problem. I am not sure that lack of progress means the stock is relatively cheap now or relatively expensive before For once, I agree partially with you. To do an offering here would be a disservice. It would not, however, be difficult to move this price up and do a secondary (and giving the mgmt team more faith than they may prove to deserve, I'm not sure we won't see such a series of events). With that funding they can advance more programs more rapidly (and wait longer to extract more attractive terms from partners). If you listen carefully to the conference call IMO you hear hints of this in the responses to questions. If you look at some of my posts in January on SI, you'll see that I also agree that on some absolute scale of valuation there are some out-of-whack valuations. And I would argue that you shouldn't buy anything you aren't willing to hold for 2-3 years to get your ROI. That said, RIGHT HERE, RIGHT NOW, those absolute valuations don't matter, it's what the market is willing to pay. And properly pitched, GLIA is worth more than $21. biowa