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

To: Bluegreen who wrote (5356)	7/23/1998 3:53:00 PM
From: Rocketman	Read Replies (1) \| Respond to of 9719

Been there, done that. I had some XOMA for much of the last year, couldn't get V1 to bite on it for the model. I like BPI as a molecule, but it is still a tough one to get to market.....although XOMA keeps slugging it out and I think that it will eventually be a homerun. I was glad to see INCY do the deal with XOMA. While XOMA CEO Castello downplayed the INCY patents when I asked him about them at last years XOMA annual meeting, I think he realized that it would be better to deal with INCY now than latter after the product has been proven. Afterall, INCY is in the licensing business, they probably made it easy on XOMA. As far as the warrants are concerned, in the early INCY days when it was a BPI company (and the word genomics hadn't been invented or hit mainstream??), some of the INCY founding evangelists had a fantasy about INCY taking over XOMA (which at that time had a market cap many times that of INCY). There was a PacMan-like cartoon of the INCY logo that was hung up with the INCY cube eating the XOMA labeled ball at the center of the logo. There were also some satirical XOMA stock certificates printed up at one time too as a gift for one of the founders. As far as an effect on the INCY shareprice, this is just one more royalty bearing license to stack on the wood pile. I don't think the markets will appreciate these until they start paying off in royalty $, until then, they are just fantasies. Rman