Biotech Values

[i760]

DNDN -

Thanks. Ranchero (who is now a "hold") made a pretty good case that Gold & team were clueless about CMC section of BLA and the cost & time that would take. Thus a poorly planned and timed secondary was needed to meet the revised cash requirements. Link...YMB # 157440 or hxxp://tinyurl.com/aec4d

The other interesting datapoint from Rumynemisis (first & correct about 9902a P value, crossover data, etc) - arrogance and need to control development is what kept DNDN away from completing partnership. Claims that DNA proposed deal on Nuvenge - $40mm cash ($20 license plus $20 equity) for 50-50 deal with DNA running the show. Gold turned it down over control issues. YMB#156834 or hxxp://tinyurl.com/9m24g

IMHO company is not lying but it comes down to confidence in managements skills and judgment about getting Provenge to market. On one hand DNDN is cheap at $5 (market cap ex cash of $200mm) given the efficacy & late stage of Provenge (plus interesting pipeline). On the other for the two above reasons, management is not ready for primetime. That IMHO are the things to weigh. I bought a little this morning.