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

To: tuck who wrote (694)	6/24/2001 3:44:20 PM
From: tuck	Read Replies (1) \| Respond to of 1784

Trickle is also wondering if it's worth a small gamble on BDAL at these levels. WAT's shortfall came chiefly from their triple quad line's weakness with big pharma customers. Note that triple quads are chiefly used for ADME/Tox studies & quantitative protein analysis. WAT said last q their strongest demand for proteomics applications was in academia and gov't markets, with "some" demand from pharma. That's now a little trend. BDAL doesn't make triple quads, and their presence in the ADME/tox market is fairly small. They said in their last quarterly CC that pharma demand for proteomics applications was strong. This would be for the MALDI/TOFs, TOF/TOFs, and Ion Traps (ABI, their nearest competitor in this product line, has not noted MS weakness, either. Their problem was in sequencers.) Low expectations for FT spectrometry, although I think I remember Dr. Voodoo saying it was cool. Further, they said they were booking half of the revenue from the GeneProt deal this quarter. So that should provide some foundation for the revenues. And since their market exposure is slightly different, it is possible they will come close to their number. I cannot speculate about the quidance, however, and that's going to be important. Note, too, that BDAL makes sample prep and robotics and software for the front end, an area that ought to be hot per Reudi Aebersold. And finally, the Dusseldorf appeal hearing for the Thermo Finnigan patent case is in August. Insiders just plain haven't sold. Trickle is sore tempted to buy a little under $12, then see what happens. BDAL has been known to come out and reiterate its numbers when the share price gets hammered. Cheers, Tuck