Replies to post #91388 on WEALTH UNIVERSITY

[$heff]

CRGN is at $1.20...gaining major momo into ASCO!

CuraGen (NASDAQ:CRGN): At the end of 1Q09, CRGN had $80M of cash/investments on hand (with expected cash burn of $3-4M during 2Q09 to fund operations) along with a Phase 2 anti-cancer compound (CR011) that continues to show promising activity in metastatic melanoma and early activity in breast cancer. CRGN has debt of $14M (2011 notes outstanding) and a market cap of just $58M, resulting in a negative enterprise value of ($8M) for the Company.

In February, CRGN announced a review of strategic alternatives that could enhance shareholder value, which may result in any or none of the following outcomes: (1) selling or licensing CR011, (2) acquiring additional assets or business lines, or (3) selling the company. CRGN expects to report final results of its Phase 2 melanoma trial and initial results of its breast cancer trial at ASCO. A summary of these trials is provided at this link, which summarizes the Company's most recent SEC 10-Q filing.

CR011 is an antibody-drug combatioon comprised of CR011, a fully-human monoclonal antibody resulting from our collaboration with Amgen (NASDAQ:AMGN) Fremont linked to a compound known as monomethylauristatin E, or vcMMAE, using technology licensed from Seattle Genetics (NASDAQ:SGEN). CR011 targets a specific molecule located on the surface of cancer cells called glycoprotein NMB, or GPNMB. After the antibody-drug conjugate (CR011-vcMMAE) binds to this target protein, it is transported inside the cancer cell where vcMMAE is separated from the antibody and causes cancer cell death.