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Biotech / Medical : Biotech Lock-Up Expiration Hell Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (350)	8/25/2001 1:52:27 PM
From: tuck	Read Replies (1) \| Respond to of 1005

Prominent mention of LEON in this GenomeWeb piece concerning the effects of Bayer's situation on its genomics & informatics partners. Note the UBS Warburg analyst calling for several deals soon. Yet LEON is near lows. Haven't found filings on EDGAR. But here's the article and what DD links I can find: genomeweb.com Being a software company, LEON's book value may mean more than that of the average biotech. Yahoo!'s confused cash figures will have me digging for that in other places. biz.yahoo.com Lion does provide financial info on its website: lionbioscience.com The recent quarterly has a fair amount of info in it. Look at "collaborations" and "net sales" (under management's discussion . . .) for some beef on the Bayer deal and its associated cash flows. The lock-up sites don't have LEON, so thanks again to Nigel for bringing the unlock to our attention. Incidentally, the Chairman has voluntarily extended his lock-up another twelve months. Board members' holdings are also listed in the quarterly. It gives cash & liquid securities as $151 million. Diluted shares are a bit over 19 million, basic mid 18s. So cash per share is ~$8. Yahoo! is indeed a bit low there. Burn rate increased due to Trega munch. Trega sure went cheap when interest in in silico ADME/Tox was just starting. Lion also has a stake in BLUE H candidate Paradigm Genetics (PDGM), a company I follow loosely. The chart is typical BLUE H: siliconinvestor.com Wide Bollinger Bands imply that LEON will consolidate here for a few days, before doing something exciting. Assuming folks are still on vacation and deals won't be finalized till next month at earliest, this gives us a little time to check LEON out. One can easily surf from the financial link given above to the rest of LEON's site to get a more complete view of Lion's kingdom. As always, BLUE HP manager cheerfully accepting opinions of risk/reward here. So far, I like it, and BLUE HP sets a tentative target of $15.75. Number of shares dependent on how much cash BLUE HP has to play with at the time. Cheers, Tuck