Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: nigel bates who wrote (3286)	4/2/2001 11:54:49 AM
From: Biomaven	Read Replies (1) \| Respond to of 52153

Peter, you are an unbelievable cynic. Actually most of my biotech boo-boos have come from not being cynical enough. In my view, to be a good biotech investor you need to combine long-term hope (how else can you stand to wait for five or more years for a drug to pan out?) with short-term cynicism (to cope with investment-banking driven "analysts" and biotechs trying very hard to put good spin on bad or medium stuff). And continuing in my cynical vein, when considering whether a company is munchable, one of the things you have to check is whether the CEO has a bunch of in-the-money options at the potential deal price that will have vesting accelerated on change of control. Peter

To: nigel bates who wrote (3286)	4/2/2001 2:33:48 PM
From: Mark Bong	Read Replies (1) \| Respond to of 52153

Nigel, I have dealt with large numbers of investment bankers on a wide range of deals including M&A. I would advise you to be an unbelievable cynic, otherwise your pockets will be cleaned out before you know what is happening. If you are ever in DC, stop by for a brew (on my penny or pence, of course) and I will regale you with wonderful stories that will make you an unbelievable cynic also. Cheers. I am not cynical about biotech though, in spite of some of the negative discussions. Those are good for the soul at a time like this. Mark