Biotech Values

[DewDiligence]

> Artes Medical Update: Artes was locked to come public last Wednesday at 12-14$ a share. That is until Cramer really creamed and panned the IPO last Monday night on Mad Money. Well that caused the phones to ring off the hook on Tuesday of the guys peddling the IPO stock. The IPO got pulled. Cowen and Lazard now smell blood and now are planning to take it public next month at 8$ a share.<

That’s a shame because it removes a great shorting opportunity. Maybe Cramer is sharper than I thought.

My advice, FWIW, is to take whatever you can get and get out. As you know from reading this board, I’ve expected sales of ArteFill to be unimpressive. The drastically lowered IPO price is consistent with this expectation. Regards, Dew