Maybe Doggy being 2 optimistic in pricing GENE @ $5-6, maybe GENE b only a good 2$ bet! After all, it aint never gonna make dough, und eventually dat cash pile will run lo, so da credit/equity markets gonna pucker up wen Gene come calling, so wy not 2$??
Doggy welcome any intelligent comments from frustrated longs, tho Doggy aware dat B a gross contradiction!
Again I would have to disagree with you and others who short this stock. Gene has in excess of $2.50 per share in cash.
They have delivered a platter of targets to AstraZeneca for the H-pylori bacteria. We of course are waiting, perhaps to long, for news about a clinical trial development. They have delivered a platter of targets to Schering Plough for the Staph A and other anti-infectives, again we are waiting for news about clinical trials.
They continue to work on the Asthma and Osteo alliances, remember the $5 million they recently received from American Home Products. I am convinced they will continue these alliances to the end. None of these alliances have been shortened or terminated prematurely. This I would say is a good sign.
I am convinced they are working on other developments which will result in further alliances. In addition, they are working with Arqule to begin their own drug discovery or drug rescue program which in time will bear fruit.
In the current market climate alot of stock prices have been slashed. I expect many companies will never recover from their 2-3 year highs and it may take Gene time to reach its high. But to continue with your doom and gloom forecast with this company is short sighted. Gene has always delivered with their programs and I am confident they will continue with this trend.
I will agree with you that their timing has been dreadful. I think if they were able to deliver some meaningful news about their programs the stock price would rise. They do not enhance the stock price by changing the end of the fiscal year nor by announcing a new director of the board.
I remain long on this stock but will admit to being very nervous about the current climate of the markets.