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

To: nigel bates who wrote (338)	2/17/2003 3:00:41 PM
From: scaram(o)uche	Read Replies (2) \| Respond to of 469

Maybe the less attractive cash bidders could do something spicy, like spinning out Confirmant (the OGSI share) to existing shareholders? Given that I feel about 50:50 re. the glaucoma project, I see no reason to go for anything less than a CATG-like potential upside. I would like a better deal, however, and may vote "no" if the current offer is on the table at crunch time. I sound like a wounded (or drunk and wounded) parrot, but Tularik would make another good stock-for-stock trade? Given Protherics, there must be tons of first-name-basis interactions between OGSI and TLRK. The market wouldn't like it as much, without a D2E7 cushion. But the leverage is there. BTW..... to show the VC potential of (real-time?) investing in public biotechs....... the Protherics deal, which brought factor Xa with it, was $1.6M in stock, today's value. At the time (07/01), the deal was valued at $9.8M. TLRK subsequently received a milestone payment of $1.5M in 2001 from Lilly and a second (undisclosed) check in Q4'02. TLRK is entitled to additional milestone payments for Factor Xa inhibitors as they progress through clinical trials, royalties are due on any product sales, and the oral-available Lilly inhibitor entered phase I last year.