Biotech / Medical
Biotech for less than cash value
An SI Board Since April 2002
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Emcee:  RWReeves Type:  Unmoderated
At market bottoms in the land of Biotech stocks, a rather odd phenomena occurs. Some, indeed many, stocks which move so much on "story" and so little on actual financial analysis, sell for very, very little money. Now just cheap is not enough for us. Nay, we want value. Extreme value. We want candidates selling for less than cash in the bank, for less than liquidation value preferably

Old timers who remember the previous market bottoms will often share with wonder stories- (indeed fantasies of buying control of a stock for less than cash and selling off the assets) situations where there was some reasonable value of the technology, no impossibly large liability, and yet more cash per share than the market price. Sometimes these companies prove irresistable to other BTs or pharmas in mergers and takeovers. Sometimes the market "comes to it's senses". Other times they had a fatal flaw and could not recover from the spiral and the cash was burned to no avail.

Now this is another no-man's land where one should not wander carelessly. These represent very speculative investments by their nature and you MUST take responsibility for your own investment decisions and do your own analysis.

With that, I invite discussion and nominations of candidate biotechs selling currently for less than cash or liquidation value and will be putting some into a model portfolio.

Please don't use the forum for pumping a stock- and provide as much of a reasoned analysis or link to hard data as possible. This forum is un-moderated, you have only your credibility at risk by pumping one way or the other. Disclosure of interest is strongly encouraged.

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427Saw a post from Doug about 1-2x cash and made me curious to check rkrw's mosghmm1February 26
426[graphic]Julius Wong-10/19/2017
425There's no change of control provision that I know of on the bonds. Would harkrw-10/15/2017
424>> trading at about a 12% ytm << Thanks. OK, I'll take anotherscaram(o)uche-10/15/2017
423Thanks for the background Jim! On the debt I was more wondering if there is a cghmm110/15/2017
422The CEO was heading up the nvs CART program and they snagged the BLUE Head of markrw-10/15/2017
421Congratulations on another astute pick, seem to recall you doing well with thoseghmm-10/15/2017
420Your pro forma market cap is way too low. I have an estimate of 147m fully dilutrkrw-10/15/2017
419I'm talking 5 a.m. Tuck Standard Time. Thanks to pointing to a SECOND issuescaram(o)uche-10/14/2017
418>> I have no idea how to do those << You'd be good at it. I gescaram(o)uche-10/14/2017
417INFI, which firesaled today after a huge move, was another we missed. It's tuck-10/13/2017
416>> ITEK << Well, it's not like I didn't have a pointer. Siscaram(o)uche-10/13/2017
415Anybody, looking at the chart, will realize that the MC was recently down to undscaram(o)uche-10/13/2017
414(amazed at how fast Southwell has moved) itek.... chagrined into studying thscaram(o)uche-10/13/2017
413About 10 months later. 30 names vs 47. Again, not considering debt. Eyeballing rkrw18/21/2017
412Yikes. Bloodbath. Sorry to see that.bmaz001-1/30/2017
411Regrettably, OCRX can now be added to your list.DewDiligence_on_SI-1/30/2017
410Thanks, Dew. bmaz001-1/12/2017
409VTVT shouldn't be on the list. It has two classes of shares, but your MC figDewDiligence_on_SI-1/12/2017
408Glad to help, Rick. Find a few more winners from this list and send me some cashbmaz00121/12/2017
407Thanks again to bmaz and rkrw. I've chosen twice from your lists over the pscaram(o)uche11/12/2017
406I believe IMGN is a great investment at this point. Look at the pipeline, 4 of Gary Mohilner11/5/2017
405Is IMGN still a good buy in your opinion? I noticed it had a nice day (+30%) to Area51-12/30/2016
404Nice synopsis of the associated story on CEMP: talkmarkets.comArea51-12/29/2016
403CEMP? I see 249 million cash on 9/30/16 balance sheet versus total liabilities Area51-12/29/2016
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