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Biotech / Medical : 2023 Biotech Charity Contest -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Radley who wrote (123)	7/12/2023 10:40:40 PM
From: technetium	Respond to of 233

Okay, but wait until Friday.

To: Arthur Radley who wrote (123)

7/17/2023 12:33:38 PM

From: technetium

Read Replies (1) | Respond to of 233

Hey, Boo.

The purchase of ISEE for $40 / share was completed on July 11. As per contest rules, your shares were converted to cash. The “investment allocation fraction” for ISEE is set to zero, and the remaining portfolio choices’ allocations are “renormalized” to sum to 100%. These new allocations are then applied to the total returned cash to give the cash available for a new investment into each choice, using the closing market price for the date of the sale completion.

Numerical Details:

Contestant	Symbol	v	Previous Allocation	Previous Shares	Previous Investment	Cash Generated	ROI	Reallocation Factor	Total Value at Cashout	Total Value After Cashout
ARTHUR RADLEY	ISEE	v	10.0%	467.07	$10000.00	$18682.86	86.83%	1.11	$111,370.20	$111,370.20

Your initial 10% of $100,000 invested in ISEE at the start of the contest purchased 467.07 shares. The purchase returns $18,682.86 to the portfolio is cash. The previous allocation for ISEE of 10% is now set to zero, resulting in multiplying the allocations for the rest of the portfolio by 1.11. The last two columns are just a sanity check that the portfolio value is unchanged by the purchase, as the cash has been reinvested in the remaining portfolio stocks.

Stock In Cashout Portfolio	Price/Share($) at Cashout
ABCM	$24.080
AKYA	$7.280
ALVR	$3.400
ASRT	$5.120
EYEN	$2.370
IDIA.SW	$7.237
ISEE	$40.000
LQDA	$7.700

The above are the price/share for your stocks at market close for July 11. The price for IDIA.SW was 6.38 Swiss Francs, and with an exchange rate of $1.1343 / Franc gives a dollar price of $7.237. (The spreadsheet carries more value after the decimal point, if you *really* want to see the numbers.)

Portfolio Stock	Previous Allocation	Previous Shares	Previous Investment	Previous Redestrib.	Value before Purchase	Price at Purchase	Current Allocation	Shares Purchased	Total Shares	Post Purchase Investment	Post Purchase Redistributions	Post PurchaseShare Value	Post Purchase ROI
ABCM	10.0%	642.67	$10,000.00	$0.00	$15,475.58	$24.0800	11.1%	86.21	728.88	$12075.87	$0.00	$17,551.45	45.3%
AKYA	10.0%	1044.93	$10000.00	$0.00	$7607.11	$7.2800	11.1%	285.15	1330.08	$12075.87	$0.00	$9,682.98	-19.8%
ALVR	10.0%	1949.32	$10000.00	$0.00	$6627.68	$3.4000	11.1%	610.55	2559.87	$12075.87	$0.00	$8,703.55	-27.9%
ASRT	10.0%	2325.58	$10000.00	$0.00	$11906.98	$5.1200	11.1%	405.44	2731.03	$12075.87	$0.00	$13,982.85	15.8%
EYEN	20.0%	12269.94	$20000.00	$0.00	$29079.75	$2.3700	22.2%	1751.79	14021.73	$24151.75	$0.00	$33,231.50	37.6%
IDIA.SW	20.0%	1368.32	$20000.00	$0.00	$9902.34	$7.2368	22.2%	573.70	1942.02	$24151.75	$0.00	$14,054.08	-41.8%
ISEE	10.0%	467.07	$10000.00	$0.00	$18682.86	$40.0000	0.0%	0.00	0.00	$10000.00	$18682.86	$0.00	86.8%
LQDA	10.0%	1569.86	$10000.00	$0.00	$12087.91	$7.7000	11.1%	269.59	1839.45	$12075.87	$0.00	$14,163.79	17.3%

The above gives the changes to each of the portfolio choices. For example, ABCM, originally 10%, the portfolio took a $10,000 investment and purchased 642.67 shares. These shares were worth $15,475.58, given the price at market close on July 11 of $24.08. After setting ISEE’s allocation fraction to zero (you can’t buy any more), then ABCM’s allocation was increased to 11.1%., applied to the $18,682.86 cash from the ISEE sale, resulted in an additional investment of $2,075.87, purchasing 86.21 additional shares in ABCM, with a total portfolio holding of 728.88 shares. The total value of the ABCM holding is now worth $17,551.54, equivalent to a current Return On Investment of +45.3%. A good choice. Note that this total ROI is diluted by the new shares purchased, which of course have a current ROI of 0.00%.

Note that for ISEE the “current Allocation” is zero. No additional shares were purchased, so the net holding of ISEE is zero shares. However, the spreadsheet carries along the generated case as a “redistibuted value”. (This number also includes any dividend payments of the stock during the contest period). This means that the initial $10k in ISEE produced an ROI of +86.8%, an even better choice. This, of course, will be unchanged for the remainder of the contest period.