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

To: Biomaven who wrote (2269)	12/10/2000 3:38:04 PM
From: Biomaven	Respond to of 52153

And here's an interesting biotech-relevant story that's been fulminating for a week or two: Biocentury's Cover Story: Patent Protection Narrows -- A U.S. appeals court decision promises to dramatically limit the ability of companies to protect their patents using the doctrine of equivalents, with several attorneys and at least two justices on the appeals panel cautioning that the ruling could severely limit the scope of protection for certain biotech patents. From biocentury.com (Full story available only to subscribers). The actual en banc decision is available at: ll.georgetown.edu Conceivably this might still go to the US Supreme Court if they don't get too distracted by other events which shall remain nameless here. <g> It's very hard to judge the full impact of this decision. Clearly it's a narrowing of rights for many patent holders, but to what extent remains to be seen. Partly it depends on the history of their patent application and the extent to which it was narrowed in the course of its prosecution. It may effect the AMGN/TKTX case some. I shorted a little AMGN and bought a little TKTX last week in case this new ruling is blown up out of proportion and has an impact on them. Peter

To: Biomaven who wrote (2269)	12/10/2000 5:24:45 PM
From: IRWIN JAMES FRANKEL	Respond to of 52153

Thanks tuck, I too found the data interesting. Peter had company on GLIA which I started buying after the good trial results came out. Looking at the list for the highest burn rate was also interesting. MAXM in first place helps understand the shorts activity. We should find out what the panel thinks Wen/Thu next. SEPR ranking 3rd on the cash burn list would be troubling if they did not have so many products in the pipeline. ij

To: Biomaven who wrote (2269)	12/10/2000 10:16:52 PM
From: tuck	Respond to of 52153

Peter, The one that caught my eye at $75 million was Microcide. Given a survival time of a year and a half, so they need a deal. Still, seems like one of the quality biotechs that's cheap right now. Disclaimer: I just bought some. I see I'm not the only one challenged by biotech taxonomy. Some companies are put in strange categories in that report. For example, what's Ligand doing in the screening category? They're an oncology company (OK, some other indications in the pipeline, but that's what's selling) with a very average screening capability that they don't make a big thing of. Cardiodynamics, another cheap one I've bought recently apparently doesn't qualify for any category. Nevertheless, a useful report with which to go bargain hunting. And I don't mind the political discourse as long as it doesn't take up any more of the thread's time than it usually does. If it's only a distraction and not a focus, OK. But this is the time of year when we should be thinking of shopping, and not just in malls, but in biotech. Cheers, Tuck