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Biotech / Medical : GLGC Gene Logic -- Ignore unavailable to you. Want to Upgrade?

To: Mike McFarland who wrote (207)	6/24/2005 4:52:35 PM
From: Mike McFarland	Respond to of 360

Guessing that glgc is spending money on the wrong stuff (CRO work) when they should be spending it on the drug repositioning program, I sold the last of my glgc this week and bought Discovery Partners with the proceeds. "And in its new drug repositioning business, Gene Logic is offering tests to find new treatment options for drug compounds that fail in initial testing. The firm will spend $14 million a year through 2007 to develop this new division" washingtonpost.com Sell the low margin zero leverage CRO division, for heaven's sake, why spend anything on that? Do spend the 14m/year on the drug repositioning service. Yes! Along those lines, Icoria is down to a MC of 7M.