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Biotech / Medical : Cambridge Antibody Technology Group -- Ignore unavailable to you. Want to Upgrade?

To: rkrw who wrote (553)	12/21/2004 11:12:29 AM
From: Biomaven	Read Replies (1) \| Respond to of 625

It's a report from Lehman, and here's what it claims: 2% royalty produces .7% net royalty 5% royalty (described as outright victory) produces a 2.1% net royalty Calculated after payment to the Medical Research Coucile(sic) (MRC) which is calculated as 1% of the first 2% that CAT receives, and 0.33% of every 1% thereafter, and a 30% tax rate Of course CATG must have a whopping big NOL, so tax rate is arguable. And the 5% maximum turns out to be not quite right either. Peter