A couple of months ago, the market cap on all biotechs was still dropping, but not sure about now, I guess it is flat overall. But DuPont sold 30% of Conoco, and DuPont claims they are going into biotech. After they finish selling the remaining 70%, they will still have 5 billion in debt, so I'm not sure just how much impact they will have. They have said they would acquire technologies, companies, drugs under development, etc.
Because the amount of total money in biotech has been flat to down, when companies like Igen go up from 5 a couple of years ago, they take money from other biotechs whose prospects are more distant and less certain. Igen now has many things going at the same time, most of which seem to have good potential, and a few have great potential. Any of these could easily justify Igen's price if they come through, and some indicate Igen is way underpriced.
Things to watch which could happen soon:
Roche buyout of hospital and reference lab license---could by worth over $40 per share (and is worth that much and more IMO).
POC agreements, perhaps with Roche, Hewlett Packard, Bayer (who bought Chiron diagnostics), and/ or Abbott.
E. coli and Cryptosporidium trial results this month. The first e. coli trials appear to be extremely good. Watch for new trials on more microorganisms (giardia, shigella, salmonella, heck maybe even Mad Cow disease--thanks for that last one Don the Lurker). In discussing this area, it is clear this area is bigger than I'd first thought. For example, there is concern about the foreign produce and meat being contaminanted with some or all of the above.
Possible animal vet testing, may be further out, but could be soon.
Wonder how residual DNA testing is doing since they just starting selling it a month or two ago.
Next steps in High Through Put instruments should be reported soon. Delivery should be this month for the first 2, and the progress of the production models should be on for Feb or so. With delivery, Igen may begin booking the fees, but this will start small at first. In the end, this area could be extremely big for Igen.
Single plate readers can be used everywhere, I wouldn't be surprised to see Igen come out with it early if their other projects continue to go smoothly. Basically, all it is is a instrument with a single ECLM while the HTP instrument has many ECLM's.
Another variation would be a hand held insturment, sort of like a POC instrument, but it's use would be for on the spot testing for industrial, pharmacuetical, environmental, water, food testing (the E. coli and Cryptosporidium tests could be used in this instrument, or one of the above instruments).
May see a pick up in novel tests for research as HTP continues.
Anyone looking for signs of possible partnerships in drug research? Hints of Igen identifying targets maybe? I bet Roche won't be a partner if they drag their payment problem out. Oh, maybe forget Roche since they can't count.
Patient monitering in fixed bed settings ( excluded from POC by definition, unless it's a combined deal). I haven't heard anything on this so maybe it further out.
There's more, but I've started to speculate too much. |
