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Biotech / Medical : Cadus Pharmaceutical Corp. (KDUS) -- Ignore unavailable to you. Want to Upgrade?

To: Tomato who wrote (426)12/7/2000 2:54:48 PM
From: scaram(o)uche  Respond to of 1833
 
Why is BMY selling?

They don't like small, loose ends?

They paid $XX/share, and the net loss tax benefits outweigh two years of potential return, even at (an example of) 80%/year?

They hate the letter "K" in the ticker?

>> How long can they go on as a shell? <<

Lots of cash and a future brightened by potential success at OSIP, Solvay or Axiom??....... a long, long time.

Doesn't make sense to go that route, however.



To: Tomato who wrote (426)12/7/2000 9:18:45 PM
From: Joe Wesley  Respond to of 1833
 
From sec.gov

" Bristol-Myers Squibb purchased $12.5 million of the Company's Series B
Preferred Stock in July 1994, an additional $5.0 million of such Series B
Preferred Stock in September 1995 upon the Company achieving a research
milestone and $2.5 million of the Company's Common Stock in the Company's
initial public offering in July 1996. All such shares of Series B Preferred
Stock were converted into shares of Common Stock on July 22, 1996."


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