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


To: Icebrg who wrote (8329)5/12/2003 8:03:56 AM
From: tom pope  Respond to of 52153
 
Erik, thank you very much (eom)



To: Icebrg who wrote (8329)5/12/2003 9:01:30 AM
From: Icebrg  Read Replies (3) | Respond to of 52153
 
April adjusted tech values.

The traditional way of calculating the tech value of a biotech stock (market cap ./. cash on hand) is perhaps not the ideal one. This was very clearly demonstrated a couple of weeks ago, when Millennium repaid abt 600 mUSD of debt they had inherited when Cor was taken over.

So, I have also made an alternative calculation of the tech values, adding the amount of longterm debt to the tech value. This has then increased the tech value for indebted biotech companies. For some it makes quite a difference.


Share Market Cash Tech. LT.Debt Adj.Tech.
Price Cap. Value Convrt. Value

1 AMGN $63.00 81417 4664 76753 3048 79801
2 DNA $36.40 18658 1035 17623 0 17623
3 GENZ $39.82 8566 441 8125 869 8994
4 GILD $46.14 9159 942 8217 595 8812
5 MEDI $34.81 8755 527 8229 218 8447
6 CHIR $40.62 7595 874 6721 417 7138
7 BGEN $38.51 5717 828 4889 39 4928
8 IDPH $32.22 4984 947 4036 861 4897
9 CEPH $39.97 2204 637 1568 871 2439
10 SCLN $44.92 2115 25 2090 6 2096

11 SEPR $19.00 1603 553 1050 999 2049
12 CELG $27.88 2243 289 1954 0 1954
13 MLNM $10.82 3163 1563 1600 83 1683
14 IVGN $31.45 1573 731 841 675 1516
15 AMLN $17.86 1655 180 1474 0 1474
16 ICOS $25.13 1562 200 1362 0 1362
17 MRX $56.87 1540 579 961 400 1361
18 PPDI $25.53 1419 181 1238 7 1245
19 IMCL $16.48 1213 293 920 242 1162
20 NBIX $44.70 1373 245 1128 0 1128

21 IDXX $36.19 1231 128 1104 0 1104
22 DP $39.28 1124 43 1081 0 1081
23 AFFX $17.64 1037 353 684 370 1054
24 QTRN $14.00 1650 672 978 8 986
25 ADRX $15.44 1108 157 951 0 951
26 QGENF $5.93 862 30 832 0 832
27 TRMS $41.65 890 61 829 0 829
28 IGEN $34.69 824 42 782 45 827
29 MDCO $20.68 844 44 801 0 801
30 MATK $32.11 756 22 734 0 734

31 HGSI $10.91 1406 1202 204 503 707
32 ALKS $10.00 645 158 487 172 659
33 QLTI $11.70 802 177 625 0 625
34 IART $26.30 719 99 620 0 620
35 BMRN $12.06 650 79 571 0 571
36 BSTE $41.55 621 68 552 5 557
37 VRTX $11.68 894 651 242 315 557
38 ABGX $9.31 817 464 353 200 553
39 GCOR $10.60 621 171 450 85 535
40 LGND $8.00 554 35 519 4 523

41 GPRO $25.45 606 107 499 0 499
42 NPSP $18.40 647 158 489 0 489
43 CNCT $15.75 495 33 461 0 461
44 ENZN $13.24 575 120 455 0 455
45 NKTR $8.09 450 314 137 299 436
46 GNTA $7.40 546 127 419 10 429
47 ITMN $18.62 590 343 247 150 397
48 XOMA $5.09 366 36 330 58 388
49 PDLI $9.32 831 624 207 159 366
50 KOSP $18.02 375 20 356 0 356

51 SMMX $15.00 465 118 347 0 347
52 TNOX $13.11 574 235 339 5 344
53 ENZ $14.34 408 73 335 0 335
54 ISPH $13.97 362 31 331 0 331
55 DIGE $18.64 338 32 306 3 309
56 CBST $8.13 241 147 93 209 302
57 EXEL $7.68 458 216 242 59 301
58 CVTX $18.91 521 420 101 196 297
59 AGEN $9.25 364 70 294 0 294
60 SGMO $13.05 345 52 293 0 293

61 AGIX $9.11 332 41 291 0 291
62 ADLR $13.65 430 154 276 0 276
63 DVSA $10.08 423 164 259 11 270
64 OSIP $19.24 701 434 267 0 267
65 NOVN $14.45 326 60 266 0 266
66 OSUR $7.01 269 13 256 3 259
67 CRXA $6.77 340 89 252 7 259
68 CIMA $22.86 327 73 254 0 254
69 MICU $11.80 312 62 250 1 251
70 ZGEN $9.98 458 215 243 0 243

71 BLUD $19.10 244 2 242 0 242
72 AMRI $11.06 354 121 233 5 238
73 PRXL $12.39 314 80 234 1 235
74 ATRX $15.78 324 112 212 0 212
75 ILXO $10.91 355 149 206 0 206
76 CURE $15.15 184 8 177 23 200
77 RIGL $10.85 232 37 195 0 195
78 NABI $6.07 237 44 193 0 193
79 REGN $6.44 287 300 -13 200 187
80 SLXP $10.85 232 57 175 0 175

81 BTGC $3.08 181 20 161 14 175
82 SCIO $2.45 75 66 9 161 170
83 AVII $7.05 187 22 165 0 165
84 IMMU $3.79 189 34 155 0 155
85 NVAX $4.05 120 8 113 40 153
86 VIVO $8.95 131 4 127 24 151
87 COB $4.09 145 4 141 10 151
88 SANG $6.47 242 107 135 15 150
89 ONXX $8.20 195 50 144 5 149
90 IDEV $3.87 181 36 145 0 145

91 FLML $9.60 156 13 143 2 145
92 ISIS $4.62 256 292 -36 179 143
93 EXAS $9.67 184 44 141 0 141
94 MYGN $10.98 297 155 141 0 141
95 OSTE $8.39 143 19 124 17 141
96 RGEN $5.68 155 18 138 0 138
97 BREL $18.85 160 36 124 11 135
98 LMNX $5.85 173 40 133 0 133
99 QDEL $4.65 134 5 130 0 130
100 EPIX $9.65 165 36 129 0 129

101 LEXG $4.61 241 114 128 0 128
102 MEDX $4.15 321 370 -49 175 126
103 NTII $7.27 131 6 125 0 125
104 CTEC $10.30 140 16 124 0 124
105 KOSN $6.97 178 53 124 0 124
106 NEOL $13.84 226 102 124 0 124
107 MDCC $11.20 172 51 121 0 121
108 TLRK $5.15 284 175 109 9 118
109 VVUS $4.19 138 24 115 0 115
110 CTIC $8.43 279 169 110 0 110

111 TRIB $2.72 110 1 109 0 109
112 CPHD $3.55 115 9 105 2 107
113 BPUR $3.59 111 20 91 10 101
114 CGPI $9.25 106 5 100 0 100
115 CIPH $4.55 124 30 95 0 95
116 CEGE $8.68 321 226 95 0 95
117 DRRX $2.67 135 43 92 1 93
118 GERN $4.85 121 48 73 16 89
119 NEOG $15.05 92 7 85 0 85
120 SUPG $3.39 112 27 84 0 84

121 NTEC $7.17 123 43 80 4 84
122 NYMX $3.60 83 1 82 na 82
123 DSCO $2.81 92 11 81 0 81
124 APHT $3.63 90 9 81 0 81
125 INKP $2.30 87 7 79 0 79
126 CLGY $4.14 82 5 77 1 78
127 DNDN $4.87 131 55 76 0 76
128 NUVO $1.28 81 4 76 0 76
129 ALXN $12.91 235 283 -48 124 76
130 NERX $3.00 81 12 68 5 73

131 GNLB $1.57 84 12 72 0 72
132 NSTK $7.90 81 14 66 5 71
133 PGNX $8.79 112 42 70 0 70
134 CERS $8.40 134 64 70 0 70
135 VPHM $3.45 89 176 -87 156 69
136 PCOP $8.90 210 142 68 0 68
137 NFLD $5.60 80 12 68 0 68
138 HBIO $3.11 93 26 67 0 67
139 EMIS $2.81 50 18 32 32 64
140 AVAN $1.45 88 26 61 0 61

141 ENMD $2.52 62 5 57 3 60
142 EMBX $8.11 66 8 58 0 58
143 NMPS $1.89 61 3 58 0 58
144 GLFD $4.99 149 96 53 4 57
145 ARIA $2.19 76 28 48 6 54
146 LCBM $3.65 47 1 46 6 52
147 MAXY $8.07 279 229 51 0 51
148 PRCS $4.35 225 209 16 33 49
149 ILMN $1.89 62 38 24 25 49
150 LIFC $2.50 53 5 48 1 49

151 CRIS $2.20 70 31 38 7 45
152 BLSI $1.39 45 0 45 0 45
153 GNVC $2.68 61 21 40 5 45
154 SGEN $2.45 75 31 44 0 44
155 TGEN $0.71 36 17 19 23 42
156 BIOI $5.00 48 6 42 0 42
157 TRPS $5.15 46 10 36 3 39
158 PTN $1.75 50 12 38 0 38
159 DOVP $5.99 87 64 22 14 36
160 GENE $2.25 53 34 20 16 36

161 INSM $1.07 36 0 35 0 35
162 DMI $2.65 44 9 35 0 35
163 SHM $1.71 23 0 22 12 34
164 INGN $2.60 56 31 25 7 32
165 SNUS $3.55 49 16 32 0 32
166 CYTR $1.60 34 2 32 0 32
167 NPRO $0.60 18 12 6 25 31
168 TXBI $1.76 77 47 30 0 30
169 PARS $0.88 54 25 29 0 29
170 VXGN $3.47 55 26 29 0 29

171 PTIE $3.05 83 54 29 0 29
172 IMNR $1.35 27 1 25 3 28
173 CLPA $1.10 43 17 26 0 26
174 VLGC $1.10 31 6 26 0 26
175 BTX $1.79 24 2 22 2 24
176 QSC $0.77 30 9 20 3 23
177 DYAX $2.08 41 34 7 16 23
178 INCY $3.20 227 376 -149 172 23
179 CYTO $4.00 35 16 19 3 22
180 DCRN $3.46 62 40 22 0 22

181 MCHM $1.15 32 10 22 0 22
182 OSTX $1.77 22 1 21 1 22
183 PDGM $0.83 27 9 17 4 21
184 AMEV $3.04 63 51 11 10 21
185 DOR $0.87 23 4 19 0 19
186 TBIO $1.14 27 9 18 0 18
187 HYBD $2.64 21 6 16 1 17
188 CYPB $2.27 30 14 16 0 16
189 LJPC $1.92 82 65 16 0 16
190 ARRY $2.26 63 47 16 0 16

191 ARQL $3.81 89 83 6 8 14
192 ASTM $0.40 21 7 14 0 14
193 STEM $0.77 21 7 14 0 14
194 CYAN $0.52 10 1 9 4 13
195 SIGA $4.38 14 1 13 0 13
196 ISV $0.63 16 4 12 0 12
197 BDSI $2.65 19 6 12 0 12
198 GEB $0.28 14 2 12 0 12
199 RNAI $4.38 21 15 6 5 11
200 VION $0.83 24 13 11 0 11

201 AVM $4.25 28 17 11 0 11
202 IMGN $2.99 129 119 10 0 10
203 CARN $1.24 12 2 10 0 10
204 DCGN $2.06 110 102 9 0 9
205 CRTQ $2.60 9 0 9 0 9
206 DPII $3.25 79 70 9 0 9
207 ARDM $0.99 45 35 9 0 9
208 EDEN $1.72 42 35 7 0 7
209 OXGN $1.67 21 14 7 0 7
210 BCRX $1.91 34 27 7 0 7

211 AIMM $0.95 16 10 6 0 6
212 NRGN $3.90 70 84 -14 20 6
213 GNBT $0.88 18 14 4 1 5
214 NGEN $1.52 34 30 4 0 4
215 BIOM $1.20 64 60 4 0 4
216 XNVA $2.35 33 29 4 0 4
217 ORCH $0.42 23 na na 4 4
218 ICCC $2.00 6 4 2 0 2
219 EPMN $1.04 13 12 1 0 1
220 GENR $0.33 12 12 0 0 0

221 GZBX $1.76 71 na na na 0
222 GNSC $1.28 29 34 -5 5 0
223 CBMX $2.24 51 na na na 0
224 CRA $9.78 699 na na na 0
225 CGEN $2.42 63 na na na 0
226 SPPI $2.75 8 na na 0 0
227 GZMO $2.36 40 na na na 0
228 ICLR $24.50 289 na na na 0
229 TRGNY $1.15 35 na na 0 0
230 AVXT $0.26 5 6 -1 0 -1

231 LYNX $2.28 11 13 -2 1 -1
232 CAQ $1.55 5 8 -2 0 -2
233 CVAS $2.00 55 71 -16 12 -4
234 KERX $1.10 22 27 -5 0 -5
235 VLTS $2.70 3 8 -5 0 -5
236 LSBC $0.74 19 27 -9 0 -9
237 ZONA $1.55 18 27 -10 0 -10
238 ALTH $1.95 50 60 -10 0 -10
239 ARNA $6.50 185 196 -11 0 -11
240 AEGN $0.19 4 15 -11 0 -11

241 EXEG $0.52 8 20 -12 0 -12
242 AGNT $0.84 17 29 -12 0 -12
243 GTCB $1.39 39 66 -27 13 -14
244 MAXM $3.55 83 97 -15 1 -14
245 BBIOD $2.20 37 60 -23 5 -18
246 ACLA $2.14 76 97 -21 1 -20
247 GLGC $5.34 145 167 -22 1 -21
248 CALP $3.56 88 109 -21 0 -21
249 DUSA $2.03 28 53 -25 2 -23
250 IBPI $0.22 1 35 -35 4 -31

251 DGEN $0.42 16 50 -33 2 -31
252 TTP $1.59 44 81 -37 0 -37
253 PCYC $3.65 59 101 -42 0 -42
254 VICL $3.30 66 120 -53 0 -53
255 CRGN $4.63 229 431 -203 150 -53
256 SQMN $0.25 7 72 -65 6 -59
257 AVGN $2.84 57 125 -68 0 -68
258 TKTX $6.04 211 288 -78 0 -78