Biotech Values

[DewDiligence]

Re: Sirna

>>Can you expand on this DewDiligence? I assume you refer to management, but I would like to know your opinions on what they are lacking in. I'm fairly new to Sirna, and I just see the large institutional investment, the insider buying, and the apparent fundamental value that the technology may have. On the surface there is much to recommend for the company. Please explain what you don't like.<<

A few things that bother me:

1. On various CC’s, Sirna’s management have understated—sometime to an alarming degree—the IP estate controlled by ALNY.

2. I was unimpressed by Sirna’s hair-removal deal (#msg-4766190, #msg-4777116). Although they didn’t pay much for the acquisition, it seemed like something designed to impress Wall Street more than a bona fide business opportunity.

3. Miscellaneous financial machinations, such as the one described in #msg-5001732.

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All in all, I have the general impression that management is not especially trustworthy. (The company’s failure in its prior incarnation as Ribozyme Pharmaceuticals probably doesn’t help in this regard.) Regards, Dew

p.s. Welcome to the board!