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

To: scaram(o)uche who wrote (14919)	12/24/2004 11:16:06 AM
From: rkrw	Respond to of 52153

Plenaxis launch has been a disaster. At current burn rate will go from selling for cash to 1/3 cash in a year. Gefter has a long history for running bio's that sell for cash :-)

To: scaram(o)uche who wrote (14919)	12/24/2004 5:39:46 PM
From: Steve168	Respond to of 52153

Fred and Richard, PRCS went below cash just recently. In Oct 2002 it traded as low as $2.5 (below cash at that time? I don't know PRCS then), then up to $7.5. To me, the window of below-cash is pretty small, and that could be the opportunity to buy some, obviously it is risky and one should have a diversified basket of such stocks. Richard, when you say "stock has been discounted forever, Good reason, in retrospect", do you mean the last 3 months? from chart, it was above cash $2.5 before that. Did I miss anything? Thanks,

To: scaram(o)uche who wrote (14919)	1/24/2005 6:35:20 PM
From: sim1	Read Replies (1) \| Respond to of 52153

Praecis Founder, CEO Gefter to Retire Monday January 24, 5:49 pm ET Praecis Pharmaceuticals Names McLaughlin New Chief Executive to Succeed Retiring Gefter WALTHAM, Mass. (AP) -- Drug maker Praecis Pharmaceuticals Inc. on Monday said it named Kevin F. McLaughlin to succeed Malcolm L. Gefter, who is retiring as chief executive. Gefter, Praecis's founder, will remain chairman and was named to the newly created position of chief scientific officer in which he will advise the company on research and development projects. He has served as chairman since 1994 and chief executive since 1996. McLaughlin joined the company in 1996 and served as chief financial officer until September, when he was named president and chief operating officer. McLaughlin was also elected to the company's board. Praecis Pharmaceuticals shares fell 10 cents, or nearly 6 percent, to close at $1.60 on the Nasdaq.