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 : Imclone systems (IMCL) -- Ignore unavailable to you. Want to Upgrade?

To: Cacaito who wrote (1858)	1/22/2002 10:44:47 PM
From: Miljenko Zuanic	Read Replies (1) \| Respond to of 2515

First I wrote long respond to previous post, but decided for short one. To tired of this IMCL discussion. <<I could not care less if you are making or losing money on this one.>> I doubt that you care for anything. Too many things you are assuming, interpreting, and accepting as granted, without in depth investigation and DD. <<Only a disparate mind would like to investigate the FDA and The Cancer Letter.>> The mind who is not afraid of the true facts, not planted TRUE. We have before facts from FDA, to be at the best questionable. FDA should be investigated for leak of the confidential info (it is NOT their obligation, policy, or duty to disclose to public ANY data for ANY drug in development). Regards the CL, they are feeding public with confidential data. Why they didn't print full RTF, so we can all judge for ourselves what is going on. Are they NEUTRAL? Are they AFRAID? <<And you are pathetic suggesting I could make "few bucks" if price drops, I would love to be short, too bad I am not.>> You still can be short, if you are not afraid? Price drop to buck, you make $19 profit. Price drop to penny, you make $19.99 (or 99.9%). Not bad. What will be the case? Miljenko

To: Cacaito who wrote (1858)	1/22/2002 10:48:18 PM
From: IRWIN JAMES FRANKEL	Read Replies (2) \| Respond to of 2515

Cacaito, It seems to me that you have some of the facts right. I reach a different conclusion. I do hold some premises to which you likely will take exception. Premises: Erbitux works, is approvable (at some point) and will be economically valuable (there may be more competition but it will leave market share for Erbitux). Some facts are not in dispute: - Market cap about $1.4 billion - Value of shares not already owned by BMY $1.1 B - Cash in IMCL $350 mil - BMY milestone payments to come due $0.8 B ($.3 acceptance $.5 approval) Looked at this way, for the cash in the company and the remaining milestones, BMY could own the whole company, if it transacted at the market price today. That is not realistic - it would take a premium. At a 50% premium to the market, BMY would pay an additional $550 million but would own the whole company. This is academic. I do not believe it is going to happen. I expect that there is a standstill agreement that management would have to waive. But, it does suggest to me that IMCL is selling at compelling valuation. ij