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Biotech / Medical : Biotech for less than cash value -- Ignore unavailable to you. Want to Upgrade?

To: rkrw who wrote (79)	7/9/2002 10:33:04 AM
From: RWReeves	Respond to of 684

Thanks for making this list. This looks dangerously close to my portfolio <vbg>. I have to congratulate the biotech core group here for making this subject firly consistently top ten in the last few days and many of these stocks are moving up in a down market. If anyone can find a bright penny in this muck this group can. And for the level discussion with remarkably low pumping and ranting. I'm busy with clinicals of my own and have little chance to contribute, but some interesting questions have been raised (e.g measures of value, adding a portfolio, etc the dreaded burn rate ratio) and will try to come by now and then and kibbitz a bit. Good going! RWR

To: rkrw who wrote (79)	7/9/2002 11:11:22 AM
From: rkrw	Respond to of 684

Good quote from AMEV's CFO in a very recent twst.com interview: "But for a company of our size with our resources we started off this year with a little more than $80 million in cash and short-term investments. And in the current capital environment, of at least the first half of 2002, cash is not a commodity; it's a strategic asset. So we would want to be able to modulate our burn rate in a way that's appropriate."

To: rkrw who wrote (79)	7/9/2002 12:06:04 PM
From: Michael Young	Read Replies (1) \| Respond to of 684

<<Dovp $63.0 $75.0 >> I've been tracking DOVP recently. Haven't purchased yet, but it appears compelling. This was a recent IPO that turned out to be disaster. CIBC and Lehman actually had initial strong interest and RAISED the offering range to $15-17. But the horrid bio market combined with bad publicity of an SEC required revision to some financials on the day of the IPO caused it to be priced at $13. The SEC required revisions were very minor, but the bad publicity caused the stock to immediately tank in the aftermarket. It appears to have found a home in the $4 range and trades with minimal volume. I have a CIBC report claiming the company will have four products in Phase III next year. The lead is NBIX's insomnia drug. They only get a 3.5% royalty, but I have seen reports claiming this could be a billion dollar drug. Not bad considering it is pure profit and the company only has around 16 million shares outstanding. They also have an anxiety drug that is supposed to have a much better side effect profile than existing therapies. It was behind IDEV's Pagoclone, but now appears in the lead since PFE dropped development of that drug. I'll post more details when I have the report in front of me. Comments are welcome. MIKE

To: rkrw who wrote (79)	7/11/2002 11:52:32 AM
From: RWReeves	Read Replies (4) \| Respond to of 684

Have not checked recently but wonder if the Humanized mab darlings of last gold rush are suitable for the list; ABGX, MEDX, PDL? I was heartened yesterday to see that all disease has been cured and drug companies, along with biotech are no longer necessary. On VPHM, I think they do have a meningitis indication in there if they can ever dig it out. Trial data seems to show that IMO, just was not the primary endpoint, and hence Nada. And of course in this day and age there are other possible indications to think about such as weaponized picos and the havoc of even your garden variety picos in an immunosuppressed host. I'd sure like to have a safety stock in my medicine cabinet. GILD is pretty cheap so even if you don't like VPHM, you can still play viral hunter inexpensively. Nice move today on IDEC's vitamin R sales numbers, maybe pharma and biotech are not dead. RWR

To: rkrw who wrote (79)	10/4/2002 11:20:29 AM
From: rkrw	Read Replies (3) \| Respond to of 684

Updated list of bio's below cash: Co MV Cash Net Vphm $27.1 200.9 21M Vgnx $19.5 67.1 Cvas $35.9 101.4 Vlts $7.0 19.1 Gtcb $27.3 73.1 Dcrn $17.9 46.3 Maxm $48.0 119.9 Ibpi $15.1 35.6 Gene $28.9 67.4 Pcyc $50.1 114.9 Crgn $201.4 455.4 305.4 Acla $55.4 125.0 Aegn $8.9 19.5 Ttp $41.1 89.6 Bcrx $20.6 41.8 Sqnm $56.4 110.4 Medx $239.9 466.9 291.9 Emis $51.7 96.7 Incy $266.6 476.2 303.9 Kdus $14.4 24.5 Ilxo $153.7 250.6 130.6 Dgen $53.6 86.5 Sepr $424.7 635.2 -346.8 Prcs $155.4 225.0 Sgmo $38.1 55.0 Pdgm $19.5 28.0 Alxn $225.7 308.6 188.6 Arna $153.2 208.8 Cbst $143.6 194.8 -9.2 Calp $107.1 139.2 Dyax $30.5 39.4 Ctic $153.7 193.5 116.5 Dcgn $94.4 115.4 Inhl $282.0 336.2 37 Etrx $36.8 43.8 Kerx $26.5 30.2 Cris $27.2 30.6 Dovp $58.8 66.0 Dddp $76.8 82.9 Twti $56.5 60.1 Maxy $215.4 221.5