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

To: Mike McFarland who wrote (227)	11/17/2006 5:31:51 PM
From: Mike McFarland	Read Replies (1) \| Respond to of 360

From the latest quarterly report: $45M cash/securities MLNM horizon program is now paid off let go of 80 positions as of 10/5--presumably this next quarter will be the first one without the hellacious burn rate now that the last payment is made to mlnm and genomics is pared way back. Gene Logic has been a huge disappointment over the past ten years. They've burned through an astonishing $310.7M. However, I think finally they may be worth a serious look. I have snipped two paragraphs that I think are worth a read: "Management concluded that the assets and technologies of its Genomics Division contribute significantly to the services provided by its Drug Repositioning Division and may also have additional value in areas such as clinical biomarker development and molecular diagnostics and is actively exploring these and other options to realize greater value from these assets and technologies." (snip) "We believe that existing cash, cash equivalents and marketable securities available-for-sale and anticipated payments from customers will be sufficient to support our operations for the foreseeable future. Additionally, while there can be no assurances that the sale of the Preclinical Division will occur, we anticipate the receipt of cash from the buyer as the result of the sale of our Preclinical Division." After watching this on and off for the past seven years, I once again have a position. These shares may be trending down here in tax-loss selling season and all that--do your own DD etc etc. I bought my shares last week when I sold some of my $3 Anadys. Naturally, I am right away 5% in the hole, ha! Also, I'd like to point out to any biotech newbies, that apparently, I cannot beat even dartboard portfolios: Message 23018854 GLGC is the cheapest biotech stock that I know of--but what do I know?