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Biotech / Medical : Biotech for less than a buck. -- Ignore unavailable to you. Want to Upgrade?

To: RWReeves who wrote (495)	3/19/2000 12:44:00 PM
From: Mike McFarland	Read Replies (2) \| Respond to of 743

Formerly LTAB, and also from the Mike-sometimes_my_stocks_dip_for_a_week_Angst_department (inside joke/wink) CNSI 1 15/16, down from the middle $2's... I have a short term (inside a year) target of five dollars a share for cnsi. Just throwing some eyeball numbers out there --thinking that rhGG2 is worth not less than 50m, milestones and royalties (which granted, come much later--but they could probably sell it outright now for 50m or more) --so that is worth the current shareprice alone, perhaps a buck a share for the ion channel program IP (?) and another buck or two for the migrane molecule. I have noticed that just about any little biotech out there with anything going for it at all usually has a marketcap of 100M. It doesn't seem to fit that cnsi, which has scraped along for so long still only is valued at 35M. A genuine bargain I think, and yes, I did buy a bit more below $2. The recent annual report reminds us that shareholder value is supposed to be right up there--recall that when they gave up one of their programs a couple years ago, they actually paid a dividend out for it, which seemed pretty odd at the time, but one wonders if they might do the same thing again, perhaps give up ggf2 to Bayer, and then merge what is left into a biotech with a focus on pain. That would be my guess. I was wondering who might be selling last week and if there were enough daytraders in cnsi, to actually churn it down below $2, of if BVF gave up a few shares. If it was Lampert--remember Ariad! (me too) ...BVF IS the market maker on this one... biz.yahoo.com