Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Transkaryotic(tktx) -- Ignore unavailable to you. Want to Upgrade?

To: keokalani'nui who wrote (115)	1/6/2003 11:00:42 PM
From: Londo	Respond to of 122

I also meant I did not know whose hand is on the conversion trigger. Do you? It's actually the SEC. When they declare TKTX's share registration active (http://www.sec.gov/Archives/edgar/data/885259/000091205702030291/a2085236zs-3a.htm), CEGE will be entitled to a number of TKTX shares that will have a market value of $15M. The 366k number you see on the link is not 'real' per se. In retrospect, this was EITHER a dumb move by TKTX or smart move by CEGE. Basically I could just imagine the negotiations.. CEGE: "We'll sell it for $24M in cash". TKTX: "$24M in cash? How about half cash and half stock? Our burn rate's kind of high." CEGE: "Woah, your stock is totally over-valued. But if you can guaranteed the price of your shares, we'll do half-cash, half-stock." TKTX: "OK, how about $11M cash, $15M stock? The extra $2M is a sweetner." CEGE: "OK, but you have to guarantee the number of shares when the registration is effective." TKTX: "(thinking that their stock price is rich, and they could afford it) Sure, sounds good!" I think we can count on at least one other lawsuit by genezyme I doubt it. GENZ got their clocks roasted when they tried TKTX on the Fabry treatment. The next big legal thing I figure will be TKTX taking an appeal to the FDA in terms of their orphan drug approval of Fabryzyme.. It's worth a quarter position at 7 bucks a share, but not much more.

To: keokalani'nui who wrote (115)	1/7/2003 1:32:14 AM
From: Londo	Respond to of 122

UPDATE: TKTX loses AMGN appeal Well, there goes one investment thesis. Replace everything I said before about speculative buying the stock from 7 to 6 bucks. biz.yahoo.com Reuters Amgen says appeals court confirms Epogen ruling Monday January 6, 11:53 pm ET THOUSAND OAKS, Calif, Jan 6 (Reuters) - Biotechnology company Amgen Inc said on Monday an appeals court affirmed a district court decision that found Transkaryotic Therapies (NasdaqNM:TKTX - News) and Aventis (Paris:AVEP.PA - News) infringed two of Amgen's patents with their version of Amgen's top-selling anemia drug Epogen. ADVERTISEMENT Amgen said it believed the decision would protect Epogen from competition in the United States. TKT and Aventis make anti-anemia treatment Dynepo and have been fighting Amgen in the courts in Europe and the United States. Amgen said the U.S. Court of Appeals for the Federal Circuit upheld the finding of the lower court that two of its patents were infringed by TKT and Aventis. But the appeals court also vacated lower court decisions about a third patent, which was originally found not to be infringed, and a fourth patent, which was originally found to be infringed. The affirmation that TKT and Aventis infringed two patents was enough to prompt Amgen to state that it would be able to "successfully enforce its patent rights against TKT and Aventis." Amgen has said it expects to generate sales of $3.2 billion to $3.4 billion from Epogen and second-generation drug Aranesp this year.