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

To: IRWIN JAMES FRANKEL who wrote (3151)	3/20/2001 9:34:36 PM
From: Mike McFarland	Respond to of 52153

There must be some hidden liabilities for a few of these, how do you explain alxn? I'm getting more attune to cash, 'tech value', and various liabilities these days: Take my best example, Genset, supposedly assets of 123m at the end of last year, with about 60m cash, ha! Subtract some debt, the perception of the apparent exodus, what is left? The oliogonucleotide division, a Rodney Dangerfield protein library, and the promise of a partner for Famoxin. Promises promises. Keep up the good work fellas, and thanks for enduring my rant. Also, Bullmarket gave a list of high cash biotechs last Wednesday, I'm sure you have seen it, some overlap with your list I think too, others missing, Vical for instance.

To: IRWIN JAMES FRANKEL who wrote (3151)	3/20/2001 9:51:22 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 52153

VGNX is an interesting one..... price, $4.35....... cash, $4.29 (Yahoo). 99% KDUS is, of course, a classic. LSBC....... $3.49, $5, 70% There are tons right now.

To: IRWIN JAMES FRANKEL who wrote (3151)	3/21/2001 12:44:24 AM
From: Londo	Read Replies (1) \| Respond to of 52153

You were asking if CEGE was really 164% of cash. This is not true. CEGE's balance sheet (at the end of December 31, 2000) consisted of roughly $260 million cash, plus 8.95 million shares of Abgenix stock, currently with a market value of $150 million. So their cash plus marketable security total is $410 million, or roughly 86% of their market cap. Ironically, this is the highest that their market value has been above their cash/ABGX holdings in ages.. they usually oscillate above and below their cash/ABGX stake within a range of about 50 million. Maybe the market is finally beginning to see their potential..