Biotech Values

[Biowatch]

IMCL stock buyback?

[I don't think that biotechs that aren't turning a healthy profit should engage in stock buybacks, if they want to expand their future growth.]

http://biz.yahoo.com/bw/050919/195767.html?.v=1

>>ImClone Systems Board of Directors Approves Stock Repurchase Program

Monday September 19, 10:07 am ET

NEW YORK--(BUSINESS WIRE)--Sept. 19, 2005--ImClone Systems Incorporated (NASDAQ: IMCL - News) announced today its Board of Directors has approved a stock repurchase program to purchase up to $100 million in aggregate principal amount of outstanding shares of the Company's common stock during the next two years.

The stock repurchase program is to be employed for general corporate purposes, including to offset dilution resulting from future grants of stock options or other dilutive incentive compensation granted to the Company's employees and directors. Stock repurchases under this program may be made through open market or privately negotiated transactions at such times and in such amounts as the Company deems appropriate, based on a variety of factors such as price, corporate and regulatory requirements and overall market conditions. The stock repurchase program may be limited or terminated at any time without prior notice. <<