Biotech Values

[biotech jim]

EVGN

It looks like EVGN’s bankers left a little money on the table when they reduced the IPO price at the last minute to get the deal done.

I don't know why it was not well subscribed, but I could have had my full allotment granted, but no such luck.

Obviously I was happy to see how EVGN worked out today, though I fully expected it. I bought 2 lots of shares early in the morning after the open, both under 16, but was a little worried about how the stock would perform at that time. EVGN picked up strength all day, and I am a happy camper.

The lead managers of the offering, CS and Deutsche Bank, did a decent job in my view. Perhaps Evogen thinks that the offering price could have been better, but in this business you want to make most participants happy (unlike the FB fiasco, though the long term holders obviously are doing fine). I am sure Evogen likes the NYSE listing, as it brings attention to the technology and the company.

In the plant genomics space, there simply are not that many players. MON buying into the offering was a strong signal. As you said, Dew, this is a long term demographic tail wind. That is why I mentioned this to the thread in the first place. Were there any other participants reading this thread participating in either the offering or buying shares today?? Many biotech investors simply ignore the plant biotech space, or do not care to understand it. Big mistake in my view.

On a different topic, since I missed out on the Bluebird ipo (BLUE), I now have my chance to buy that stock. No position yet though.