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Biotech / Medical : Oxford GlycoSciences Plc -- Ignore unavailable to you. Want to Upgrade?

To: nigel bates who wrote (321)	1/23/2003 12:59:30 PM
From: keokalani'nui	Read Replies (1) \| Respond to of 469

"CAT is issuing shares and getting cash and technology of dubious value," he added. What a moron. CAT is issuing shares and getting, potentially, enormously valuable assets and all the cash they need to develop them. How "dubious" is the value of fully funded venture capital investment, with an approved product accompanied with the management who accomplished it, made without a cash outlay? I agree with Nigel. I'm quite happy with this. Two weeks ago, on a program by program basis, I gave ogsi a -USD131m technology value, or about -$2.75/sh; deducting cash, $20M for 40% of V, $15m for two larger-market Phase 2 drugs '03, $10m for ALL of the proteomics collaborations, $5m for 4,000 functional protein patents, and $0 for preclinical pipe. I tried for days but couldn't buy any ADRs, as supply had all dried up. I finally got some ordinary shares last week, so I have enjoyed at least part of the pop. Using a reasonable value for the H royalty stream, CAT has a negative tech value too. There will be lots of news from the combined company in '03.