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

To: Icebrg who wrote (9547)	11/23/2003 1:12:36 PM
From: Icebrg	Respond to of 52153

Nasdaq Biotechnology Index Rebalancing Effective Monday, November 24, 2003 Due to the change to the index methodology with respect to the type of companies that may be eligible for inclusion and the resulting number of changes to the Index (see Nasdaq Biotechnology Index Semi-Annual Component Changes Effective Monday, November 24, 2003), NASDAQ determined that a special rebalancing of the Index is necessary. The new weights were determined by applying the proprietary algorithm to the actual current market capitalization of the securities. The rebalancing of the Index will become effective prior to market open on Monday, November 24, 2003. Traders may wish to adjust their positions at market close on Friday, November 21, 2003. nasdaqtrader.com [That was the major changes as well as additions to the index. But apart from that there seems to be changes to the index almost every week. nasdaqtrader.com ] All Rebalancing Changes SYMBOL OLD DRM NEW DRM CHANGE (in 000s)(in 000s) AAII 73,476 73,476 Addition ABGX 299,324 150,973 -148,351 ABRX 28,417 28,417 Addition ADLR 97,024 97,024 Addition AFFX 76,699 70,753 -5,946 AGEN 278,934 80,207 -198,727 AGIX 104,174 104,174 Addition ALKS 361,966 145,658 -216,308 ALXN 103,940 42,558 -61,382 AMGN 522,905 758,075 235,170 AMLN 144,205 82,107 -62,098 AMRI 154,444 69,048 -85,396 ANPI 39,725 39,725 Addition APPX 67,755 67,755 Addition ARIA 83,653 83,653 Addition ARNA 120,296 42,218 -78,078 ARQL 41,422 36,510 -4,912 ARRY 74,359 35,716 -38,643 ATRX 146,603 43,264 -103,339 AVGN 34,360 26,224 -8,136 AXCA 131,345 131,345 Addition BIIB 102,185 112,012 9,827 BMRN 179,897 144,731 -35,166 BPUR 59,164 59,164 Addition BSTE 31,656 31,656 Addition CALP 55,885 39,522 -16,363 CBST 196,264 85,320 -110,944 CEGE 307,192 98,328 -208,864 CELG 84,027 66,095 -17,932 CEPH 49,668 47,936 -1,732 CHIR 107,297 121,638 14,341 CIPH 50,593 50,593 Addition CNCT 83,951 83,951 Addition CRGN 186,110 86,792 -99,318 CRXA 311,354 98,178 -213,176 CTIC 226,098 62,146 -163,952 CVTX 121,273 71,123 -50,150 DCGN 117,720 117,720 Addition DIGE 50,368 50,368 Addition DNDN 82,042 82,042 Addition DVSA 318,448 80,513 -237,935 ELAB 42,063 42,063 Addition ENCY 81,767 81,767 Addition ENDP 120,059 120,059 Addition ENZN 180,306 105,105 -75,201 EPIX 46,956 46,956 Addition ESPR 77,231 77,231 Addition EXAS 26,444 26,444 Addition EXEL 426,139 175,847 -250,292 FHRX 70,532 70,532 Addition FLML 33,208 33,208 Addition GENZ 125,289 144,980 19,691 GERN 54,218 90,129 35,911 GILD 110,650 130,468 19,818 GLGC 95,173 41,596 -53,577 GNTA 338,674 192,223 -146,451 GPRO 60,547 60,547 Addition HBIO 45,082 45,082 Addition HEPH 22,649 22,649 Addition HGSI 289,202 129,873 -159,329 ICOS 122,049 52,330 -69,719 IDBE 183,494 79,635 -103,859 IDEV 75,264 75,264 Addition IDXX 36,232 36,232 Addition ILXO 238,683 87,103 -151,580 IMCL 138,206 63,762 -74,444 IMGN 88,567 57,969 -30,598 IMMU 133,132 96,688 -36,444 INCY 398,951 154,653 -244,298 INGN 34,138 34,138 Addition IPXL 140,024 140,024 Addition ISIS 318,993 100,789 -218,204 ISPH 90,681 90,681 Addition ITMN 109,822 91,074 -18,748 IVGN 66,725 40,722 -26,003 KOSP 37,450 37,450 Addition LEXG 114,608 114,608 Addition LGND 396,884 139,574 -257,310 LJPC 67,685 67,685 Addition LMNX 78,559 48,115 -30,444 MATK 36,957 36,957 Addition MDCO 121,469 63,629 -57,840 MEDI 135,809 173,402 37,593 MEDX 462,460 200,752 -261,708 MICU 101,382 101,382 Addition MLNM 272,973 219,902 -53,071 MOGN 168,614 47,634 -120,980 MYGN 194,838 47,575 -147,263 NABI 114,882 114,882 Addition NBIX 56,574 36,089 -20,485 NEOL 76,364 32,319 -44,045 NKTR 386,368 129,101 -257,267 NOVN 34,374 34,374 Addition NPSP 125,917 62,755 -63,162 NRMX 67,762 67,762 Addition NVAX 86,372 42,790 -43,582 ONXX 74,804 74,804 Addition OSIP 155,486 65,947 -89,539 PCOP 89,377 40,598 -48,779 PDLI 293,702 133,978 -159,724 PHCC 79,821 79,821 Addition POZN 54,728 54,728 Addition PPCO 30,477 30,477 Addition PRCS 211,499 97,474 -114,025 PRGO 127,866 127,866 Addition PRXL 57,324 57,324 Addition PTIE 53,225 53,225 Addition QGENF 353,294 163,471 -189,823 QLTI 243,911 111,106 -132,805 REGN 125,199 136,826 11,627 SCLN 228,381 79,621 -148,760 SEPR 77,325 77,325 Addition SFCC 16,501 16,501 Addition SHPGY 72,707 72,707 Addition SLXP 45,116 45,116 Addition SUPG 68,931 68,931 Addition SVNT 104,846 104,846 Addition TARO 27,497 27,497 Addition TECH 50,500 50,500 Addition TELK 177,878 86,885 -90,993 TEVA 121,868 121,868 Addition TKTX 146,860 78,957 -67,903 TLRK 338,413 144,808 -193,605 TNOX 203,553 108,342 -95,211 TRMS 47,571 57,488 9,917 UTHR 129,786 45,627 -84,159 VRTX 202,627 137,585 -65,042 VXGN 35,026 29,481 -5,545 XOMA 469,537 233,448 -236,089

To: Icebrg who wrote (9547)	11/23/2003 3:55:54 PM
From: tom pope	Read Replies (1) \| Respond to of 52153

And in addition Garren is one of the founding share-holders of the company. Which he very clearly states in the text of his letter. Before going further I want readers to know that I have a large founder’s stock position in Rigel but I am not an insider and do not have any inside information (I was one of the two partners that formed a predecessor company that eventually became Rigel). Because of my large stock position I have been reluctant to write about the company but now that First Boston (CSFB) has put out a very bullish report the ice is broken. Another reason I have not written more is that the company is in early trials, the stock was under pressure from a very dilutive financing, and the public float is thin with sometimes only a few thousand shares trading daily.