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Biotech / Medical : T/FIF, a New Plateau -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (1152)	5/1/2002 2:17:46 PM
From: michael_f_murphy	Read Replies (2) \| Respond to of 2243

>> ...double counting ... Yes. Projects have no value if they can't be funded.>> You lost me, as "double counting" is usually a "bad thing" ;-) So when program X has "value" $Y is value $Y the discounted revenue only or does the "value" include the estimated cash burn for the particular program? (If there is a VPHM cash burn. May be $0 VPHM burn for fully partnered program And not that I would have a clue today as to the cash burn for any VPHM program.) That is, are the values "gross" or "net"? If a program's "value" does not include the particular program's cash burn i.e. it is "gross" value, all development expenses and liabilities are covered in the 70% discount of the current cash on hand then I'm beginning to see the light. :-)