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Strategies & Market Trends : Low Price/Cash Ratio Value Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Anaxagoras who wrote (149)	5/22/1999 4:42:00 AM
From: Mike McFarland	Read Replies (1) \| Respond to of 1931

re biotechs, this list is sorted for cash as a percentage of marketcap: Message 9462857 I believe the list is a compilation of the stocks that are followed by a handful of biotech enthusiasts here on SI, and therefore is incomplete. For instance, I do not see CTIC on the list, and it trades close to book value. If anybody happens to follow a biotech stock which is not on the list, and has slogged through edgar to confirm the financials, I am sure DAK would appreciate any suggestions or additions for other cheap biotechs.

To: Anaxagoras who wrote (149)	5/22/1999 3:57:00 PM
From: eWhartHog	Read Replies (1) \| Respond to of 1931

Anaxagoras, I looked at the COCN 10-Q briefly and think you may have overlooked the preferred equity of $15.26 million at 3/31/99. This exceeds the cash and short term investments, and even total shareholders' equity of $4.68 million. Thus common shareholders' equity was negative, in excess of $2 per share. The class E preferred appears to be a floorless convertible. The company lost $0.82/share in the March quarter, and warns it will require further financing to continue to operate. COCN may be a worthwhile investment based on its technology and patents, but I can't see it as a great buy based on the balance sheet alone. Please advise me if I've missed something. Regards, John