Biotech Values

[gfp927z]

Thanks Dew. Also was curious to get your take on Senomyx. I haven't been able to find the details of the royalty rates they're claiming for their various taste receptor enhancers (1-4% royalties), or revenue projections for 2006 when they say the first enhancer-containing products should be sold. I know you've expressed some skepticism about the company, so I thought you may have seen some additional info. I thought they looked interesting - these more mundane areas of biotech can sometimes be better investments than the exotic stuff.

Concerning GTCB, I wasn't surprised by the EMEA foot dragging. It's probably just a stalling tactic, since the European regulators have little to gain by a fast approval and a lot to lose if there's a problem with the transgenic drug later. They're likely to take an ultra cautious approach, which objectively speaking would only seem prudent for a government regulatory body. Anyway, that's my take as a non-long.

Thanks for your insights Dew.