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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM) -- Ignore unavailable to you. Want to Upgrade?

To: SemiBull who wrote (1531)5/14/2003 8:26:50 PM
From: SemiBull  Read Replies (3) | Respond to of 3044
 
1:04PM Millennium Pharm reiterated Underweight at Morgan Stanley (MLNM) 14.29 +1.80: -- Update -- Although firm expects good news for Velcade to continue the near-term positive momentum in the stock, believes co faces a number of issues including declining collaborative revs and cash burn. Finds it difficult to justify co's $4 bln + valuation, and believes fair value is closer to $9-$10.
finance.yahoo.com



To: SemiBull who wrote (1531)5/14/2003 10:07:35 PM
From: scott_jiminez  Read Replies (1) | Respond to of 3044
 
<<The company consumed $120 million of cash for the three months ended March 31, 2003.>>

Geez with that sort of largesse they are depending on squeezing every drop of profit out of Velcade (and Integrilin).

Always a highly risky proposition for new drugs.

S&P's hesitant and conservative approach appears to be completely appropriate, if not somewhat of a cautionary flag, in the wake of all the recent hype.


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