Biotech Values

[rkrw]

<<You should be, IMHO>>

I'm not. I don't own the stock.

I don't see any reason for me to question their honesty. It's in their registration docs as being 1-4%, so if they lied, then they may have an sec criminal suit on their hands. Further, the underwriters were reputable.

<<I admit that my initial DD on SNMX has been cursory, but I don’t like what I see. I think Ant’s comparison of SNMX to the genomics companies circa 1999-2000 may be on target. If further DD by any of us shows my initial assessment to be wrong, I’ll be happy to reconsider.>>

Big difference is $200M or so market cap and modest burn rate versus $2B, no approved products in sight and spending like no tomorrow.

One positive is partners reupping and expanding, which is usually a good sign.

I think it's an interesting business, But I have no feel for whether it will be sucessful. As far as being successful, to state the obvious they need to get an enhancer approved (probably not hard) and broadly used (hard).