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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: bob zagorin who wrote (26968)	12/18/1998 1:46:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

It may have been a re-run, but CNBC just did a Biotech review. They noted that VC only out in half as much this year as last (for IPOs or secondaries). Rachel Welch of Warburg Dillon Reed indicated that 1/2 of the 300 public Biotechs only had enough money for the next 18 months. She saw a major shake-up with about 250 or the 300 out of business with the next few years, leaving about 50 companies. She noted that the profitable biotechs were up about 100% (this year?). Among the losers listed were AMLN, AIMM, ABTI, & IMUL Winners were AMGN, BCHE, INCY, CNTO Investors had to pick the right stock and not just the sector.