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

To: Biomaven who wrote (6824)	7/30/2002 2:17:54 PM
From: rkrw	Read Replies (1) \| Respond to of 52153

I think institutional holders would have tarred and feathered them if they repriced their own options. I'd call it ethical rather than admirable.

To: Biomaven who wrote (6824)	7/30/2002 2:17:59 PM
From: Ian@SI	Read Replies (1) \| Respond to of 52153

I guess if we see Rubin's name show up in a choice job at a leading biotech during September or October, the 'better opportunity' explanation becomes more credible. ++++++++++++ Today's Heard on the Street WSJ column deals with biotech burn rates and the shutdown of capital markets to this sector. A nice supporting chart of money sources for the past 5 years.

To: Biomaven who wrote (6824)	7/30/2002 2:20:50 PM
From: Sidney Street	Respond to of 52153

Whether Rubin jumped or was pushed, the market reaction is remarkable. SEPR's R&D did not begin with his arrival there, and it will not collapse with his departure. This percentage drop would make sense if we got a "pursuing other opportunities" announcement about Barberich or Southwell, but Rubin?

To: Biomaven who wrote (6824)	7/30/2002 3:03:27 PM
From: Czechsinthemail	Respond to of 52153

The likelihood of landing a position elsewhere with a more lucrative options package is certainly a possibility if Rubin decided to leave. Hunkering down and cost-cutting in SEPR's R&D program would be a possibility if the company was urging him out. As far as the stock price is concerned, it looks like a major overreaction. Perhaps it is a "perfect storm" effect: having the Rubin news appear on a day when the WSJ has an article raising fears about biotech financing coupled with selling momentum driven by a falling stock price. To the extent that we've seen is largely a bear raid, the stock may rebound sharply on short-covering and bargain buying.