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Biotech / Medical : Biotechnology Value Fund, L.P. -- Ignore unavailable to you. Want to Upgrade?

To: scaram(o)uche who wrote (240)	7/27/1998 4:57:00 PM
From: aknahow	Read Replies (1) \| Respond to of 4974

Rick, we may need new rules but the only rule that needs to change if the role of the F.D.A. Once a few years and millions of $ are cut out of the development process the people that now make the rules will have no justification for capitalization deals that hurt because a lot of he risk will be gone. BTW Corvas had private placement in 96 of 3,000,000 units for potential total of 6 million shares and received $14.8 million. Don't know exercise price of the warrants. Not trying to judge if deals were fair or not, just pointing out their existance. Also, NPS 1 million shares to Amgen. Reminds me Ligand stock previously place with Amgen now being sold. To be fair, (not sure why), placement of common with a partner pharma that is just straight common and at a premium to market is a good deal for the company even if the partner eventually sells the stock.