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

To: tuck who wrote (57)	11/3/2000 1:36:58 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 1784

One can put together a portfolio and learn from it. One can put together a portfolio in an attempt to outperform everyone else on earth. Seems to me that either type of portfolio will be great to have. Why not just slap some names together and go? Some recent "trickle" IPOs have been priced as though the companies would derive pharma-like margins. If lockup expirations take them down, is this because insiders are just plain smart, or does it reflect bargain time? Dr. Voodoo's wisdom points at high ticket items. I took a brief course at San Francisco State on 2-D gels in (??) 1984, when it was still an "art" in the hands of those like Pat Jones. The apparatus that we used cost about $15. I don't follow GNSL.... how do they handle "value added" applications, and what are the barriers to entry? What stops BioRad et al. from stealing their lunch? I don't know the answers to these questions. I'd the the first in line to invest, if there are good answers. There's no hidden agenda in the questions. One further note..... please don't use my suggestions as "narrow definitions". I'm just trying to participate.

To: tuck who wrote (57)	11/3/2000 2:00:44 PM
From: Biomaven	Read Replies (1) \| Respond to of 1784

tuck, Yes GNSL looks like a reasonable play at these levels. Lockup expiration is often a reasonable time to buy. One of the issues is how many VC rounds there were - sometimes you'll see a stock like ITMN that barely budged at lockup expiration, perhaps because not that big a chunk was owned by VC's. As Rick says, I wouldn't try to be too cute about timing - this isn't real money after all. Be good to have a balance between reagents, equipment, genomics/proteomics, etc. WAT looks interesting in the big-ticket equipment section, and IVGN has been strong of late. Peter

To: tuck who wrote (57)	11/3/2000 2:01:11 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 1784

Here's an example of a recent "trickle" IPO. They raised $80 million. Current market cap is $510 million. Are they worth it? Not a chance. Can they do something with the 80M to justify the market cap? Perhaps. Do you want to own it in the interim? If there's another genomics blip like that in February, the answer is probably "yes". Otherwise, it's heebie jeebies time. Good company, just expensive. Tuesday October 3, 8:36 am Eastern Time Press Release InforMax, Inc. Announces Initial Public Offering ROCKVILLE, Md,--(BUSINESS WIRE)--Oct. 3, 2000--InforMax, Inc. (Nasdaq: INMX - news) announced today the initial public offering of 5,000,000 shares of common stock at a price of $16 per share. Gross proceeds will total $80 million, before deducting expenses for the offering and underwriting discounts and commissions. Bear, Stearns & Co. Inc. acted as lead managing underwriter, and U.S. Bancorp Piper Jaffray and Adams, Harkness & Hill, Inc. acted as co-managers. InforMax is a leading global provider of bioinformatics software solutions for the analysis and interpretation of genomic, proteomic and other biomolecular data. InforMax's software solutions are designed to enable researchers to more efficiently organize, share, analyze and interpret data that form the genetic blueprint of all organisms. The Company's principal products are the Vector NTI® desktop suite and the GenoMax® enterprise platform for networks of linked computers. Copies of the final prospectus relating to the initial public offering may be obtained from: Bear, Stearns & Co. Inc., 245 Park Ave., New York, NY 10167 U.S. Bancorp Piper Jaffray Inc., 222 South Ninth Street, Minneapolis, MN 55402 Adams, Harkness & Hill, Inc., 60 State Street, 12th Floor, Boston, MA 02109 Statements in this press release that are not strictly historical are ``forward-looking'' statements which involve a high degree of risk and uncertainty. Such statements are only predictions, and the actual events or results may differ materially from those projected in such forward-looking statements. Factors that could cause or contribute to differences include, but are not limited to, risks associated with the Company's technologies and the need to keep pace with rapid technological change, the Company's dependence for future revenues on its ability to increase sales of its enterprise platform and successfully establish the GenoMax® brand, the Company's dependence on developing and maintaining strategic alliances, development and availability of competitive products or technologies, the possibility that the Company may not achieve or maintain profitability in the future, the likelihood that the Company's results may fluctuate from quarter to quarter, dependence on patents and the ability to defend the Company's intellectual property rights. These factors and others are more fully described in the Company's Registration Statement on Form S-1, as filed with the Securities and Exchange Commission. Contact: InforMax, Inc., Rockville Media Contact: Angela Peacock 605/232-9509