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   Biotech / Medical3-DIMENSIONAL PHARMACEUTICALS (DDDP)


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To: scaram(o)uche who wrote (46)1/17/2003 12:14:38 PM
From: scaram(o)uche
   of 146
 
only one year........

Message 16861048

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To: Findit who wrote (135)1/17/2003 12:22:41 PM
From: scaram(o)uche
   of 146
 
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: scaram(o)uche who wrote (137)1/18/2003 10:14:53 AM
From: jayhawk969
   of 146
 
Any thoughts on what this portends for other drug discovery microcaps? Lexg etc.

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To: jayhawk969 who wrote (138)1/18/2003 6:07:23 PM
From: scaram(o)uche
   of 146
 
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
   of 146
 
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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To: jayhawk969 who wrote (140)1/19/2003 1:40:42 PM
From: scaram(o)uche
   of 146
 
J.D.:

Love the company. I'm just concerned that this "rock and a hard place" situation will be ongoing, and I'm therefore focused on asset plays or companies where burn is aimed at innovative, new targets and molecules that are in man. I'm just concerned when a good percentage of burn is aimed at screening for new targets, etc.

Love the company. If sentiment swings, it could be a market fave. I'm elsewhere, but I picked three terrible situations, back-to-back, in 2002.

A rather pleasant note...... doubling down in two of those three lousy picks would have resulted in a hunk of recent return.

>> I owned Sibia at the time of acquisition. I did not participate in DDDP. <<

Glad to hear about SIBI and the LEXG calls. Again, while I participated in DDDP, I did not profit from the position. I lost faith and didn't feel that it was wise to dig deep at or near lows. Congrats to those who did!!

Rick

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To: scaram(o)uche who wrote (141)8/31/2003 10:02:39 AM
From: tom pope
   of 146
 
Whatever happened to DDDP? Just meandering this morning, and Yahoo draws a blank. The rock and a hard place got to be overwhelming?

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To: tom pope who wrote (142)8/31/2003 11:49:07 AM
From: dalroi
   of 146
 
Tom

Dddp was munced

cheers

S

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To: dalroi who wrote (143)8/31/2003 12:47:55 PM
From: tom pope
   of 146
 
Thanks, Stefaan. Beneficially for stockholders?

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To: dalroi who wrote (143)8/31/2003 12:53:46 PM
From: tom pope
   of 146
 
Thanks, Stefaan, found it on the munch thread.

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