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Biotech / Medical : Incyte (INCY) -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (1004)	4/22/1999 2:36:00 PM
From: PashaBear	Respond to of 3202

Yeah, I added a few more, too... PB

To: LLCF who wrote (1004)	4/22/1999 4:01:00 PM
From: nigel bates	Respond to of 3202

This is the bit the market doesn't like - >>Operating expenses increased to $39.6 million for the quarter ended March 31, 1999, compared to $27.5 million for the same period in 1998. The increase in operating expenses was driven by the ramp up in expenses related to Incyte's bioinformatics, genomic sequencing, gene mapping and SNP discovery programs, AND LEGAL EXPENSES related to the ongoing litigation with Affymetrix, Inc. During the first quarter, Incyte has experienced delays in a number of sales cycles in its microarray business. This is due predominantly to the complexity of the Affymetrix litigation, the uncertainty surrounding the pending injunction hearing, and the need to update prospective customers as to the Company's intellectual property portfolio. << I don't either. OTOH the stock looks pretty cheap at these levels. Still, legal FUD will probably hold it back. However unfairly, the value of its IP in general may well be discounted significantly for some time. nig