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Biotech / Medical : Neurocrine Biosciences (NBIX) -- Ignore unavailable to you. Want to Upgrade?

To: gao seng who wrote (591)	6/11/2000 4:52:00 PM
From: Miljenko Zuanic	Read Replies (1) \| Respond to of 1834

First, Price was seller of the NBIX in 4Q-99 and 1Q-00. Not a big one but net small seller. So much about K. Jenner preaching about investment philosophy. I am not saying that it was his decision (T. Price is still larger NBIX institutional investor with 1.6 mm shares) to reduce NBIX holding. Second, NBIX success does not depend only on CRFr's agonist/antagonist or insomnia programs. They have much more in R&D and broad programs, multiple fields even outside CNS. One of their new program (as recently mentioned in press), obesity and diabetes, evolved from multiple collaborations (more significantly from Cone's work at NW) even has bigger market opportunity that it is depression-anxiety CRF program. So, investment risk in yang development stage bios has to be valued in light of their dynamic business plan and what that plan care forward. Not one or two most advance candidate! When we all know that this (bet on single candidate for instance) rarely pay well when risk (for small molecule bios) is to great compared to moonshots return. Miljenko