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Biotech / Medical : Human Genome Sciences, Inc. (HGSI) -- Ignore unavailable to you. Want to Upgrade?

To: Steven Rachbach who wrote (509)	9/6/2000 8:55:36 PM
From: Steven Rachbach	Read Replies (1) \| Respond to of 1127

HGSI registered to sell 1 Billion in securities after market close. My rudimentary dilution-o-meter (used much for all of those HGSI convertible preferred offerings) shows a $1 Billion securities offering as approximately 11% dilutive of existing common shares. This is in line with previous offerings. Since they already have close to a billion in cash, I wonder why --<<Human Genome Sciences said it will use the proceeds to initiate and expand laboratory and human studies and to enhance research and development. The company may also devote some of the money to pursue patent coverage on genes and proteins and to operate and expand its process development and manufacturing facility.>> I have often wondered when they might acquire another company with their war chest -- is the time now right? And what about the timing of this announcement? The stock is approaching its all-time high with the result of the Phase II trial to be announced next week. Would they offer debt if the news were bad and a Phase III trial was not forthcoming? A lot to ponder.