Biotech Values

[zebra4o1]

Dew, I know what you mean about Eyetech. I'm starting to feel kind of bad for the poor guy who is on the hook for my September puts. Speaking of which - are you still holding to your 25% chance of a bad outcome for the advisory committee meeting? As I recall, you came up with that figure before Guyer announced that they were going to withhold the two year data.

It's going to be hard to hold these puts across the committee meeting. When I bought them it was just play money for an all or nothing bet on the meeting outcome. But as Eyetech drops, it is starting to become more money than I want to risk on the flip of a coin.

Here's a little children's ryhme in your honor:

Cross my heart and hope to die
Stick a needle in my eye
The August meeting is nigh
Shareholders are gonna cry

Guyer intends to withhold
Data that is two years old
As we watch events unfold
It plays out like Dew foretold