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: lrb who wrote (6108)	4/8/2002 1:29:39 PM
From: Biomaven	Read Replies (2) \| Respond to of 52153

Thanks lrb - I'm impressed - how did you do that? Peter

To: lrb who wrote (6108)	4/8/2002 3:12:00 PM
From: IRWIN JAMES FRANKEL	Respond to of 52153

The Leerink Swann table for Tech Value divided by '03 Revenues is interesting. The average tech value (Market cap less cash without adjustment for debt) ratio to 2003 Revenues is 20.5. ITMN at 3.6 is under valued by the market. What about SEPR? The tech value is about $400 million ($1.2B - $0.8B). Revenue in 2003 is estimated at $375 by JP Morgan after taking out 100% of Soltara revenue. That means that the Tech/'03Rev ratio is about 1.07. That is cheap. If you add back the debt burden of SEPR to MC then Total Cap/'03Rev the ratio is about 4.3 which is still cheaper than any of the companies presented in the table other than ITMN. ij