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

To: SofaSpud who wrote (775)	7/18/2001 7:21:55 PM
From: DaveAu	Read Replies (2) \| Respond to of 792

Sofaspud, I expect they're more than a year away but I think now is a great time to buy. Subtracting their cash, the slide from the news has cut the market value in half. So the least advanced of the 3 products was worth half the value? I don't think so. I wouldn't be surprised if some people had to dump due to loss of marginability. Others may just be fed up. If you're a short termer, you may be right that now is not the time to buy but I'm not good at timing so I just try to buy them cheap and average in. I believe the whole Canadian biotech sector is cheap right now and I own a bunch of them (DMX, ISA, SYB/ONC, AXO are my largest biotech holdings). The cheapest stocks within the sector are the ones that have disappointed with trial failures such as MBI, SYB, and FMI. That makes sense. In MBI's case, perhaps it's a good sign that management decided to cut their losses early and only proceed where the chance of success is high. It may be that they will come back with a revised product for staph in the future. Dave