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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: Robohogs who wrote (6612)	6/21/2002 10:23:21 PM
From: sjemmeri	Respond to of 52153

You guys are right on valuation measures - a simplistic PS model does not apply well to this industry (although it does work very well for many others). However, I think briefing.com was very right on the TA of the issue. I'm no TA expert but clearly the recent bounce within biotech stocks (at least the couple dozen I follow) fits well within a continuing downward trend and is not yet close to constituting a reversal. As for the longer term, certainly the many biotechs without products now or in the near future could continue to mimic the dotcom collapse.

To: Robohogs who wrote (6612)	6/23/2002 11:02:40 AM
From: John Metcalf	Respond to of 52153

Yes, I realize that you were agreeing. It was Cary's point I was speaking to. Perhaps it's inevitable that investors are looking for new metrics following the collapse of so many "emerging" companies. Some discussions of big-science companies have participants focused on liquidation value, which makes no sense to me. Capital markets and share-holding exist in order to raise capital for development of companies. The current mood is extreme, though it can last any amount of time.