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Biotech / Medical : Neurocrine Biosciences (NBIX) -- Ignore unavailable to you. Want to Upgrade?

To: fred hayes who wrote (1372)	2/18/2005 9:53:20 AM
From: DewDiligence_on_SI	Read Replies (3) \| Respond to of 1834

>>ICOS is not profitable because of costs associated with partner drug. If it didn't have these costs, it would be profitable. The whole point of the article re ICOS is invalid.<< That’s utter nonsense. ICOS will make more money from Cialis later by virtue of incurring losses now; that’s the way it works with a JV(duh). For any given value for ICOS’s aggregate DCF from all future Cialis sales, it makes little difference to the current share price whether the company gets royalties or a share of net JV profits. The main point of the MF article was that investors tend to overvalue companies like NBIX and SEPR until faced with the cold reality of actual sales figures. Talk biotech at www.tinyurl.com/zaqn