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

To: Biomaven who wrote (6877)	8/12/2002 12:25:18 PM
From: dalroi	Respond to of 52153

Peter "looks like some of the funds that normally make private company investments are going with a beaten-down public company instead. why wouldnt they some of them are so beaten down , they get a more mature compagnie for "bargain" prices AND its (mostly) liquid waiting to here a big fund buying hlaf of elan voor 1b give a nice equity in 50+ compagnies or 20m a piece cheers Stefaan

To: Biomaven who wrote (6877)	8/12/2002 1:01:11 PM
From: Vector1	Read Replies (1) \| Respond to of 52153

Biomaven, it is interesting that existing public valuations are competing for VC money. I have long believed that BEXXAR was an approvable drug and would garner significant market share. However, one has to wonder why the FDA has given them such a hard time. Personality conflict, holes in the data, who knows. Sometimes life is just not fair. I expect they will get a full and fair hearing at the AC meeting. Given that the money is coming in as common stock it is clear to me that these vc funds think CRXA has a good shot. On the other hand I have been wrong and burned so many times on this stock I may be a contrary indicator. V1

To: Biomaven who wrote (6877)	8/12/2002 2:15:59 PM
From: nigel bates	Respond to of 52153

Interesting that they feel they need to raise the cash now - At the end of the quarter, Corixa had approximately $80.5 million in cash, cash equivalents and investments. This cash balance does not reflect approximately $18 million payable in cash or stock that is owed Corixa under the terms of its recently announced asset sale to Medarex. In addition, this cash balance does not include Corixa's $75 million equity line of credit from BNY Capital Markets that has not yet been accessed... They are clearly not 100% confident that they will prevail on Bexxar (g). I would very much like to have been privy to the discussions that went on re the financing.