| To: mopgcw who wrote (130) | 1/16/2003 2:54:10 PM | | From: keokalani'nui | | | | After 2002, I'm not confident enough to answer that question directly. You probably already have an idea of what I like anyway.
If I were searching for best ideas I would spend some time in the 2003 contest entries; but keep in mind some are not actually owned by the contestants and even if owned are unlikely to be owned in those proportions, or if ever owned, then no longer so. |
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| To: keokalani'nui who wrote (131) | 1/16/2003 3:58:32 PM | | From: mopgcw | | | | >>After 2002, I'm not confident enough to answer that question directly
me too, which is why I am searching for light in the darkness.... ;) |
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| To: scaram(o)uche who wrote (126) | 1/16/2003 7:23:57 PM | | From: Miljenko Zuanic | | | | <<The upside? Scratch one more management team that didn't have a concept of the breadth of the job that needed doing. They did the job, as they conceived of it, pretty well. But that's not enough.>>
Pretty well... for what and for whom???
Technology value, premium...NEGATIVE!
IOR....NEGATIVE!
Results...NEGATIVE
You bet they will receive FAT BONUSES for transaction!
This guys are like CATS, failing is fun for them.
Whish I can kick their fat ASS.
Miljenko
[eom] |
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| To: Harold Neely who started this subject | 1/17/2003 10:17:19 AM | | From: Findit | | | | Looks like there are lots of folks waiting to see if another offer comes in. Only 1/5 of the total float has traded since the J&J offer. Insiders will control the voting since they own 59 of the shares. So the writing may already be on the wall, but I am holding for a while. Just hoping for a better offer. Anyone else?
Jim |
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| To: Findit who wrote (135) | 1/17/2003 12:22:41 PM | | From: scaram(o)uche | | | | No, but good luck. I took the cash and walked. Walked ticked. I feel as though I've met "high throughput Corvas", where we can translate faster screening to faster burn.
I think that the Board decided to get a good deal for management and employees, while making a decision to protect shareholders from potential downside.
A critical mistake, in-licensing such a huge amount of burn -- applied so far from market -- in this funding environment. I could only interpret the move in context that management was anticipating good news re. more than one project. And then, for a prolonged period....... nada.
Silly error. It was sort of stunning at the time, sort of "there must be something good, in the deeper works" stunned. After all, there was the milestone payment for thrombin inhibitors, the Athersys (sexy, for me) deal, and all of that time on the discoverworks learning curve, right?
Ugh.
So...... I hope that most jobs are secure. It looks like they are. It may be a good move by the Board. Certainly looks like JNJ got a good look at the company, so they're probably just picking low hanging fruit in this difficult period for biotech. |
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| To: jayhawk969 who wrote (138) | 1/18/2003 6:07:23 PM | | From: scaram(o)uche | | | | Companies with "no way out" and which are receiving insufficient interest from investors should sell if they get a chance. JNJ is getting a bargain IMO. Shareholders may also be getting a good deal, relative to what it would have looked like in a year. I say "may", turning to the frustration of......
This is sort of like SIBIA, and we still hear, on occasion, that the secretase inhibitors are advancing. I still cuss when I hear something like that.
Both investor's capital and jobs need to be maintained. I'm all for take-under-like deals if they are an expeditious solution to a "funding issue" that would become chronic. They will keep labs at work, focusing innovation at medicines without disruption.
JNJ wants DDDP. That's good. We should want people to want our companies. And it's not substituting one Soap for another, HYSQ/VGNX. The SIBIA frustration was cast when valuations had reached low extremes, following one very rough summer. Immediately thereafter, we headed for a period of prolonged and ultimately over done respect for preclinical research and i.p., aka the bubble.
Somewhere in between summer '98 and bubble would be nice. But..... companies with "no way out", given the current funding crisis? They should be shopping themselves to pharma. Congrats on those who had doubled down to the extent that the investment was sound and to those who got in at the lows. I'm not among your ranks.
I was overweight SIBIA from a low basis when they went.......
Message 10775419
Hope somebody was that lucky here. SIBI went during the tech rally, just as we were rolling toward biotech's version of the dotcom bubble. Preclinical research and i.p. are now discounted to a similar degree, and pharma needs it. I wish that pharma's pockets were deeper.
Maybe Microsoft or IBM will diversify. |
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| To: scaram(o)uche who wrote (139) | 1/19/2003 12:52:25 PM | | From: jayhawk969 | | | | | I owned Sibia at the time of acquisition. I did not participate in DDDP. However I am in LEXG and the $5 January covered calls expired Friday. ( At least I think they did--the stock closed at $5) I am probably in a position of Liquidating the LEXG regardless. I had a nice 4 month return on the calls and it is probably time to exit. Lexg's cash position looks ok until you factor in restricted cash, and the synthetic lease that is impacted by FASB's new ruling dated January 15/03. It is interesting that J&J is also a collaborator with LEXG. As I recall your last thoughts on LEXG were not overly optimistic. |
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