Biotech Values

[microcapfun]

>>I am curious, but did the Baker Brothers buy YMI in the open market or did they buy them in some sort of private placement or financing YMI had in the low single digits?<<

Not sure. All I know is that they broke the 5% barrier in August of 2010 and by January they owned ~9% of the company. They haven't filed a 13G since, so they must still own over 5%.

http://www.sec.gov/Archives/edgar/data/1087940/000114420410045951/v194863_sc13g.htm

http://www.sec.gov/Archives/edgar/data/1087940/000114420411008609/v211344_sc13ga.htm


>>I vaguely remember the Baker Brothers as being large holders of ARIA after Berger over at Ariad did many famous PIPES in the low single digits, only to see their holdings go to zero in short order...as if they were just in there to flip the stock.<<

Don't know about that, but I've 'bumped into' the Bakers in following various biotech stocks, and had the impression they were quite savvy and successful overall. I bet some others on this board have amusing stories about them.

The intriguing point, however, is not that somebody bought a lot of shares of YMI, but that they were purchased by a group of Incyte backers with inside information about Incyte's competitor research into CYT387.

micro