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

To: peter michaelson who wrote (825)	3/26/2000 7:16:00 PM
From: Bosco	Read Replies (1) \| Respond to of 1298

Hi Peter, I ve been burnt by biotech before. However, I ve concluded there is a substantial difference then and now. Burnt rate used one of most important aspects of biotech/drug cos, especially the smaller ones. Still is, but not as deadly for well managed cos like CEGE. It is b/c the newer crop of biotech cos are run like a business, not a loose group of scientists still thinking they were doing research funded by federal grants! To wit, many well managed cos, CEGE included, hedge their bets by 1) partnerships and 2) outsourcing. By having a good fiscal discipline, CEGE will last long enough for some of her technologies, like AAV, in which she has a hold in the patenting department, to come to the market. That is why people are so concerned about patents in this sector. I do agree with you that cash hog is meaningless to companies like CEGE. However, my guess is that CEGE portfolio of patents is worth much more than $27 [or is it wishful thinking <g>] so the cash and ABGX holding are extra! Ultimately, IMHO, the current state of CEGE is not b/c of any fundamental analysis. Rather, it is purely technical. Once the volume is digested, or the biotech back in favor, she will run like cat out of the bag best, Bosco