Biotech Values

[rstor1]

+++The fact that they didn't disburse the cash they had left a year ago to shareholders and disband was criminal.+++

EXEG shareholders are getting what they deserve, IMHO.

AVII proposed a merger with EXEG last fall. The offer was at a value in excess of cash. The EXEG holders overwhelmingly voted against it, even though the company was being raped by then current management (since replaced with the new gang).

The puzzle to me is how they still have any institutional holdings. You would think these guys would do better homework than retail. It is telling about the faith that many put in the "smart money".

Bob