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Biotech / Medical : Cell Genesys (CEGE) -- Ignore unavailable to you. Want to Upgrade?

To: GregS who wrote (758)	3/11/2000 10:22:00 PM
From: david james	Read Replies (1) \| Respond to of 1298

biz.yahoo.com "Cell Genesys retains 2,426,034 shares, or approximately 12 percent ownership of Abgenix stock, which at the closing price on February 29, 2000 had a market value of approximately $781 million." The CEO gave a really excellent presentation today to a standing room only crowd in San Fran. He stated that it was likely that CEGE would be profitable in 2000, and stated that because of their revenues, they are burning through very little cash (actually said it would take 135 years at the current burn rate to burn through their cash). Also discussed the importance of the patents that they have not only because they generate revenues, but because several companies were collaborating with CEGE because of those patents - and will therefore benefit from the technology they develop. My guess is that last week a bunch of people pulled their money from biotech funds forcing these funds to sell their stakes indiscriminantly. However, with this presentation, I think we are very likely near the bottom. At least I am considerably more confident in my holdings. David

To: GregS who wrote (758)	3/11/2000 10:24:00 PM
From: Bosco	Read Replies (2) \| Respond to of 1298

Hi Greg - 1st, I agree with your bullish sentiment on CEGE. However, maybe you have missed the recent development biz.yahoo.com Regardless, I am not concerned. Those who invest in biotech should prepare for this kind of volatility. Allegedly, Buffett and Lynch have said, independent of each other, one should prepare to lose 50% if one invests in the stock market. I would say biotech is more - and, incidentally, I did! However, the reward is also greater. Even without ABGX and cash position, CEGE is worth this much just for her dominance in AAV best, Bosco

To: GregS who wrote (758)	3/11/2000 10:30:00 PM
From: Exacctnt	Respond to of 1298

GregS, Let's get with the program. From CEGE's own website and press release, "Cell Genesys retains 2,426,034 shares, or approximately 12 percent ownership of Abgenix stock." cellgenesys.com Look at the 3/01/2000 Investor relations press release. Perhaps you didn't factor in the 3,324,000 additional shares issued and sold by ABGX which increased their number of shares outstanding , and/or factor in the reduction of the number of shares CEGE owns by 966,000 shares as a result of them reselling them in the offering. Regards Edit: Looks like you've already been advised to the ownership percentage.