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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: AurumRabosa who wrote (1051)	5/3/2000 9:09:00 PM
From: david james	Read Replies (1) \| Respond to of 52153

A lot of companies including CEGE will be presenting at this meeting. Should be good for the sector. ____________________________________________________ IMPORTANT ADVANCES IN CANCER RESEARCH TO BE PRESENTED AT THE ASCO 2000 ANNUAL MEETING -- ASCO Announces Press Program for Meeting in New Orleans, LA, May 20-23, 2000 -- -- Meeting Features New Developments in Breast Cancer Therapy, Treating Hot Flashes, and Molecular Treatment Strategies -- More than 20,000 cancer professionals from around the world will gather at the 36th Annual Meeting of the American Society of Clinical Oncology (ASCO) at the Ernest N. Morial Convention Center in New Orleans from May 20-23, 2000. ASCO?s Plenary Session will feature important breakthroughs in breast, lung, kidney, and stomach cancers, as well as a new, non-estrogenic drug to reduce hot flashes. ASCO press conferences will highlight new findings in the treatment of breast cancer, efforts to improve quality of life for cancer patients, new molecular targets and strategies for cancer treatment, advances in lung cancer care, and the results of major, practice-changing, clinical trials. In addition, ASCO President, Joseph S. Bailes, MD, will discuss the society?s major new initiative to assess the quality of cancer care in the U.S., and ASCO will hold a special session for media to address the current state of clinical cancer research ? including cost, safety and recent developments in high-dose chemotherapy for breast cancer. Over 2,600 abstracts have been accepted this year, more than ever before, for presentation in the plenary, integrated, oral, poster and general poster sessions, and for publication in the program proceedings book. Scientific research will be presented on each of the four days of the meeting, in addition to physician education sessions. PRESS PROGRAM Beginning Saturday, May 20th, ASCO will hold seven media briefings featuring significant research being presented at the Annual Meeting, and reviewing important areas of concern in the field of cancer care. All research is embargoed until the date and time of scientific presentation. asco.org

To: AurumRabosa who wrote (1051)	5/4/2000 9:35:00 AM
From: Biomaven	Read Replies (1) \| Respond to of 52153

Ron, A P/S of about 42 seems too rich. First, P/S isn't a meaningful measure for a company like CHIR that has substantial royalty income that drops straight down to the bottom line. Second, even if it was, CHIR's P/S is around 6, not 42. (Revenues were around $217 million for the quarter, or close to $1 billion for the year; market cap is around $6 billion). Agreed that the Betaseron probably isn't as good as Avonex. However, there seemed to be some other non-recurring issues this quarter that acted as a drag on earnings. Overall I thought the quarter looked like a pleasant surprise that may well help the sector along. Peter