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

To: rkrw who wrote (6198)	12/28/1998 7:42:00 PM
From: Mike McFarland	Read Replies (1) \| Respond to of 9719

Thread: Has anybody screened lately for biotech book value versus R&D budgets. I know this is a pretty tall order, but I recently, and perhaps foolishly, bought into cnsi...before the pump and dumpers all got a chance to get out. I'm in the hole on this one, but, like so many of these micro biotech stocks, it looks like a screamin buy. Let's assume from the PR that Bayer will be now covering a good part of cnsi's R&D budget for the next several years...then cnsi's book value is about the same as what they are going to be paid each year for the next few years by Bayer. We know they've already done their layoffs at cnsi, so they're not going to be burning a lot of cash for anything but ggf2... Anyway, I'm down 33% in this thing because I was a fool to jump in so quick--but take a look at it for the model portfolio. I know at less than a buck a share it looks a little junky, but if it ends up on the bulletin board and sinks back to fifty cents it's going to look like bargain of the year. (Of course I thought it was a bargain at 1 1/4...so what do I know, ha ha). I'm also thinking that they'll have a partner for Cerestat, or whatever it is called now, by spring. Wishful thinking? --Mike