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To: LLCF who wrote (169968)6/3/2002 10:02:24 PM
From: reaper  Read Replies (1) | Respond to of 436258
 
DAK -- most (if not all) of those companies have significant debt, in the form of converts (i know INCY and PDLI do; don't know for sure on the others) so the cash is not exactly un-encumbered.

Edit: Then again, I'm long INCY (@ +/- $9) so that shows you what I know <g>

Cheers



To: LLCF who wrote (169968)6/4/2002 6:47:35 AM
From: Oblomov  Respond to of 436258
 
DAK, MLNN has $7 cash per share and $11 in book value, and HGSI has $11.30 cash per share and $9.60 book value. Some of the smaller biotechs may be even more favorable in these terms, but I don't think that the big biotechs are grossly overvalued. BWDIK, I bought them primarily as a spec.


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