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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: Boyce Burge who wrote (5117)	6/16/1998 7:04:00 PM
From: Rocketman	Read Replies (3) \| Respond to of 9719

Thanks Boyce, it was good meeting you finally, I was impressed that you knew I was Rocketman. Memory hell, I took 14 pages of notes, should have been more, but Roy talked a bit faster than I could write and flipped some of the slides a bit fast too. I too agree that it was a strong meeting. I really liked the LifeArray software demo, sure made it obvious that it is a powerful discovery tool. What did you think of it? The whole Synteni microarray deal I think will turn out awesome. Even if PKN/TIGR release all of this vapordata (alleged future sequence data)into the public domain, it will have nowhere near the value of the INCY expression profiling data, and all of the other good stuff they offer. Plus, INCY should do great on patent infringement against those who develop based on public domain data and then much later (due to PTO delays) find out that INCY owns the patents. While currying favor with academics, I doubt that PKN will make much money on this venture. But, I think that they are pissing off their customers and giving them a great reason to engineer around PKN patents and systems. A classic strategic error, suppliers going into business against their customers, while still wanting to be a supplier. Especially when a competing supplier has a year or more headstart. Duhhhhh! The street doesn't seem too enamored with PKN either. After going up about 10% after the early May announcement to the mid $70's, it has come down about 20% since the peak to $60 3/8 today. Of course this spike presented a great opportunity for PKN insider VP Noubar Afeyan to exercise options for and then immediately dump 30,000 shares @ $73.94 on 5/14 worth $2,218,199 and 4600 more shares @ $73 on 5/18 worth $335,000. The biggest insider sales at PKN since at least Oct 96 (as far as the Yahoo Insider trades records go back to). Obviously Mr. Afeyan has great confidence in PKNs plans, or maybe he has some very expensive summer vacation plans?????? Hmmmmm....