This is what the MF said todya about SCLN; "Weak near-term guidance notwithstanding, I see a lot to like in this plan. SciClone boasts a fortress-like balance sheet with $86 million cash and not a lick of debt. Uncommonly for a small biotech, it's throwing off loads of cash -- $65 million over the past year alone -- and is now in its third straight year of improving free cash flow.
Clearly, SciClone can afford this buyback. And with its stock trading for a reasonable 15 times earnings and an even cheaper four times annual free cash flow, I can't think of a better use of SciClone's cash than buying back its super-cheap shares."