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

To: Mike McFarland who wrote (2807)	2/4/2001 11:24:50 PM
From: Jibacoa	Respond to of 52153

<<Was the order entered on November 8th? The Cadus PR came out the morning of the 9th.>> This is a copy of the announcements: November 9,2000: Cadus Pharmaceutical Corp. announced that the U.S. District Court for the Southern District of California entered an order granting final judgment for Cadus in the patent infringement suit filed by SIBIA Neurosciences, Inc., which was acquired by Merck & Co. The District Court set aside the $18,000,000 judgment in favor of SIBIA, based on a 1998 jury verdict, and vacated the injunction against Cadus, after the United States Court of Appeals for the Federal Circuit ruled that the claims asserted in SIBIA's U.S. Patent No. 5,401,629 were invalid, and that the District Court erred in denying Cadus' motion for judgment as a matter of law. September 7,2000: Cadus Pharmaceutical Corp. announced that the United States Court of Appeals for the Federal Circuit ruled in favor of Cadus and overturned the 1998 judgment entered by the U.S. District Court for the Southern District of California in the patent infringement suit filed by SIBIA Neurosciences, Inc. (which was acquired by Merck & Co. in 1999). The Court of Appeals ruled that the claims of SIBIA's U.S. Patent No. 5,401,629 asserted against Cadus were invalid, and that the District Court erred in denying Cadus' motion for judgment as a matter of law on the issue of invalidity. The risk/reward I mentioned is because it is still selling at 0.54 of book with a current ratio of 23.43 and reportedly having $1.89 cash/share. And only one "reported" employee <g> The insiders hold 85% of the 13.5 million shares, so the float is only about 2 million. Bernard