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

To: Vector1 who wrote (6352)	1/19/1999 11:28:00 PM
From: Miljenko Zuanic	Read Replies (1) \| Respond to of 9719

V1: << The lack of cash is a risk. In my opinion CELG has a good likelihood of announcing a new financing this quarter. I will await the terms and decide whether to buy. If it is a solid financing I will be a buyer. Even if I have to pay a higher price I do so knowing a major risk has been removed. In additon even if it is a high quality financing (and there is a good chance it is) the stock may trade down. Investors in many cases react negatively to dilution. >> I do not buy this! You are almost predicting strong and sound new financing, still you are talking about cash risk as reason for not buying now. If you are fishing for lower price, say so, but cash risk is not issue for CELG, imo. If new finance will dilute current status (small risk, but still option), why buy at all? JJ show that he can bring sufficient $$$ at (at that time) favorable condition for CELG (all bad and dilutive financing was before he become CEO), so why will now be different. Specially, when CELG story have good progress and perspective in future. Last two finance rounds was almost entirely to institution investors. I do not see problem this time. Miljenko