|  |
November 2003 Stock Report
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| GENOME THERAPEUTICS CORP |
$2.95 |
74% |
56% |
$93 |
$27 |
$66 |
$15 |
152 |
$0.4 |
-$55.6 |
0.5 |
3.3 |
| HUMAN GENOME SCIENCES |
$12.59 |
71% |
18% |
$1,627 |
$1,152 |
$475 |
$503 |
1086 |
$0.4 |
-$189.2 |
6.1 |
0.9 |
| INCYTE CORP |
$6.17 |
95% |
15% |
$447 |
$349 |
$98 |
$172 |
585 |
$0.2 |
-$107.2 |
3.3 |
0.6 |
| MILLENNIUM PHARMACEUTICALS |
$15.63 |
85% |
56% |
$4,709 |
$1,545 |
$3,164 |
$83 |
2079 |
$1.5 |
-$428.0 |
3.6 |
1.1 |
| MYRIAD GENETICS |
$11.60 |
60% |
-39% |
$314 |
$86 |
$228 |
$0 |
491 |
$0.5 |
-$28.4 |
3.0 |
1.2 |
| 1st Generation Genomics Average |
|
77% |
21% |
$1,438 |
$632 |
$806 |
$155 |
|
$0.6 |
-$161.7 |
3.3 |
1.4 |
| 1st Generation Genomics Median |
|
74% |
18% |
$447 |
$349 |
$228 |
$83 |
|
$0.4 |
-$107.2 |
3.3 |
1.1 |
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| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| ACLARA BIOSCIENCES |
$3.23 |
69% |
37% |
$116 |
$79 |
$37 |
$0 |
95 |
$0.4 |
-$20.4 |
3.9 |
0.4 |
| AFFYMETRIX |
$24.92 |
83% |
-8% |
$1,479 |
$434 |
$1,045 |
$369 |
877 |
$1.2 |
na |
na |
4.1 |
| CALIPER TECHNOLOGIES |
$6.30 |
88% |
80% |
$178 |
$134 |
$43 |
$1 |
251 |
$0.2 |
-$38.2 |
3.5 |
0.7 |
| CEPHEID |
$7.35 |
95% |
20% |
$264 |
$11 |
$253 |
$0 |
148 |
$1.7 |
-$17.7 |
0.6 |
3.0 |
| CIPHERGEN BIOSYSTEMS |
$10.20 |
73% |
192% |
$294 |
$21 |
$274 |
$30 |
323 |
$0.8 |
-$62.4 |
0.3 |
1.7 |
| COMBIMATRIX |
$4.00 |
79% |
na |
$105 |
$43 |
$62 |
$0 |
14 |
na |
-$26.7 |
na |
na |
| COMPUGEN |
$5.08 |
81% |
239% |
$133 |
na |
na |
$0 |
176 |
na |
-$12.8 |
na |
na |
| ILLUMINA |
$6.75 |
93% |
35% |
$222 |
$55 |
$167 |
$25 |
233 |
$0.7 |
-$22.0 |
2.5 |
3.5 |
| NANOGEN |
$3.27 |
66% |
60% |
$80 |
$30 |
$50 |
$0 |
195 |
$0.3 |
-$27.6 |
1.1 |
0.4 |
| ORCHID BIOSCIENCES |
$1.27 |
64% |
102% |
$96 |
$4 |
na |
$2 |
492 |
na |
-$40.8 |
na |
0.3 |
| SEQUENOM |
$3.56 |
85% |
63% |
$142 |
$75 |
$67 |
$10 |
216 |
$0.3 |
-$37.4 |
2.0 |
0.3 |
| TRANSGENOMIC |
$1.81 |
43% |
-40% |
$46 |
$3 |
$43 |
$1 |
326 |
$0.1 |
-$14.4 |
0.2 |
0.4 |
| Genomic Supply Average |
|
76% |
71% |
$263 |
$81 |
$204 |
$37 |
|
$0.6 |
-$29.1 |
1.8 |
1.5 |
| Genomic Supply Median |
|
80% |
60% |
$138 |
$43 |
$65 |
$1 |
|
$0.4 |
-$26.7 |
1.5 |
0.6 |
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| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| APPLIED MOLECULAR EVOLUTION |
$17.70 |
98% |
781% |
$371 |
$53 |
$319 |
$10 |
106 |
$3.0 |
-$22.8 |
2.3 |
2.3 |
| ARENA PHARMACEUTICALS |
$6.60 |
77% |
-1% |
$169 |
$163 |
$6 |
$0 |
336 |
$0.0 |
-$46.8 |
3.5 |
0.6 |
| CELERA GENOMICS GROUP |
$13.61 |
94% |
21% |
$988 |
na |
na |
$0 |
na |
na |
na |
na |
na |
| CURAGEN CORP |
$6.26 |
89% |
17% |
$311 |
$372 |
-$61 |
$150 |
857 |
-$0.1 |
-$93.7 |
4.0 |
0.6 |
| DECODE GENETICS |
$8.21 |
84% |
222% |
$443 |
$69 |
$374 |
$46 |
530 |
$0.7 |
-$40.0 |
1.7 |
1.0 |
| EXELIXIS |
$6.48 |
66% |
-28% |
$461 |
$260 |
$200 |
$60 |
550 |
$0.4 |
-$93.6 |
2.8 |
1.0 |
| GENAISSANCE PHARMACEUTICALS |
$2.92 |
87% |
192% |
$67 |
$26 |
$41 |
$0 |
104 |
$0.4 |
-$15.2 |
1.7 |
0.3 |
| GENE LOGIC |
$5.00 |
58% |
-36% |
$156 |
$153 |
$2 |
$1 |
264 |
$0.0 |
-$15.6 |
9.8 |
0.4 |
| GENENCOR INTERNATIONAL |
$16.25 |
93% |
44% |
$962 |
$144 |
$818 |
$57 |
1098 |
$0.7 |
na |
na |
1.8 |
| LARGE SCALE BIOLOGY |
$1.75 |
60% |
51% |
$45 |
$11 |
$34 |
$0 |
114 |
$0.3 |
-$30.5 |
0.4 |
0.2 |
| LEXICON GENETICS |
$5.49 |
74% |
37% |
$345 |
$142 |
$202 |
$4 |
579 |
$0.3 |
-$68.6 |
2.1 |
1.0 |
| LYNX THERAPEUTICS |
$4.85 |
57% |
-12% |
$26 |
$5 |
$22 |
$1 |
128 |
$0.2 |
-$11.2 |
0.4 |
0.2 |
| MAXYGEN |
$10.74 |
69% |
33% |
$374 |
$192 |
$182 |
$0 |
280 |
$0.7 |
-$22.4 |
8.6 |
1.0 |
| NUVELO |
$3.69 |
92% |
265% |
$281 |
$25 |
$256 |
$5 |
98 |
$2.6 |
-$64.0 |
0.4 |
1.4 |
| PARADIGM GENETICS |
$1.20 |
62% |
118% |
$39 |
$7 |
$32 |
$2 |
194 |
$0.2 |
-$14.4 |
0.5 |
0.4 |
| RIGEL PHARMACEUTICALS |
$16.30 |
98% |
34% |
$241 |
$12 |
$229 |
$0 |
160 |
$1.4 |
-$42.0 |
0.3 |
1.7 |
| SANGAMO BIOSCIENCES |
$4.70 |
83% |
-5% |
$117 |
$46 |
$71 |
$0 |
74 |
$1.0 |
-$13.2 |
3.5 |
0.9 |
| ZYMOGENETICS |
$13.45 |
75% |
74% |
$705 |
$329 |
$376 |
$0 |
364 |
$1.0 |
-$52.5 |
6.3 |
1.7 |
| Genomic Targets Average |
|
79% |
100% |
$339 |
$118 |
$182 |
$19 |
|
$0.8 |
-$40.4 |
3.0 |
1.0 |
| Genomic Targets Median |
|
80% |
36% |
$296 |
$69 |
$182 |
$1 |
|
$0.4 |
-$35.3 |
2.2 |
1.0 |
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| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| EDEN BIOSCIENCES |
$1.60 |
71% |
-4% |
$39 |
$23 |
$16 |
$0 |
55 |
$0.3 |
-$13.2 |
1.7 |
0.3 |
| EMBREX |
$12.55 |
93% |
7% |
$103 |
$10 |
$93 |
$0 |
241 |
$0.4 |
na |
na |
1.7 |
| IDEXX LABORATORIES |
$47.28 |
96% |
51% |
$1,648 |
$192 |
$1,456 |
$0 |
1281 |
$1.1 |
na |
na |
4.7 |
| IMMUCELL CORP |
$3.00 |
62% |
30% |
$8 |
$4 |
$4 |
$0 |
26 |
$0.1 |
na |
na |
0.9 |
| NEOGEN |
$21.25 |
97% |
65% |
$133 |
$8 |
$125 |
$0 |
265 |
$0.5 |
na |
na |
5.3 |
| Agbio/enviro. Average |
|
84% |
30% |
$386 |
$47 |
$339 |
$0 |
|
$0.5 |
-$13.2 |
1.7 |
2.6 |
| Agbio/enviro. Median |
|
93% |
30% |
$103 |
$10 |
$93 |
$0 |
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$0.4 |
-$13.2 |
1.7 |
1.7 |
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| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| ALEXION PHARMACEUTICALS |
$18.62 |
86% |
6% |
$339 |
$279 |
$60 |
$124 |
172 |
$0.4 |
-$85.9 |
3.2 |
0.9 |
| ATHEROGENICS |
$14.30 |
76% |
104% |
$525 |
$61 |
$464 |
$100 |
85 |
$5.5 |
-$49.2 |
1.2 |
3.1 |
| AUTOIMMUNE |
$1.68 |
75% |
82% |
$28 |
$11 |
$17 |
$0 |
2 |
$8.7 |
-$0.6 |
19.4 |
0.2 |
| CONNETICS CORP |
$17.97 |
93% |
50% |
$572 |
$27 |
$545 |
$80 |
190 |
$2.9 |
-$7.2 |
3.8 |
3.3 |
| CORTECH |
$2.75 |
84% |
12% |
$10 |
$0 |
$10 |
$0 |
na |
na |
-$0.3 |
-0.2 |
na |
| CYPRESS BIOSCIENCE |
$13.50 |
95% |
614% |
$299 |
$3 |
$296 |
$0 |
10 |
$29.6 |
-$30.0 |
0.1 |
2.6 |
| ICOS CORP |
$44.41 |
93% |
40% |
$2,793 |
$117 |
$2,677 |
$250 |
525 |
$5.1 |
-$156.0 |
0.7 |
3.6 |
| INKINE PHARMACEUTICAL CO |
$5.64 |
95% |
130% |
$273 |
$12 |
$261 |
$12 |
49 |
$5.3 |
na |
na |
4.3 |
| LA JOLLA PHARMACEUTICAL CO |
$2.92 |
33% |
-58% |
$149 |
$51 |
$98 |
$1 |
156 |
$0.6 |
-$39.7 |
1.3 |
0.7 |
| PROTEIN DESIGN LABS |
$13.67 |
66% |
50% |
$1,281 |
$587 |
$694 |
$400 |
397 |
$1.7 |
-$20.0 |
29.4 |
2.0 |
| TANOX |
$14.94 |
66% |
35% |
$656 |
$216 |
$439 |
$5 |
127 |
$3.5 |
na |
na |
2.1 |
| Autoimmune Average |
|
78% |
97% |
$630 |
$124 |
$506 |
$88 |
|
$6.3 |
-$43.2 |
6.6 |
2.3 |
| Autoimmune Median |
|
84% |
50% |
$339 |
$51 |
$296 |
$12 |
|
$4.3 |
-$30.0 |
1.3 |
2.3 |
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| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| ALLOS THERAPEUTICS |
$2.70 |
33% |
-66% |
$70 |
$37 |
$33 |
$0 |
92 |
$0.4 |
-$46.8 |
0.8 |
0.4 |
| ANTIGENICS |
$11.76 |
74% |
-4% |
$464 |
$86 |
$378 |
$0 |
212 |
$1.8 |
-$66.4 |
1.3 |
1.3 |
| APHTON CORP |
$6.51 |
65% |
143% |
$187 |
$2 |
$185 |
$3 |
56 |
$3.3 |
-$32.6 |
na |
1.4 |
| ARIAD PHARMACEUTICALS |
$7.95 |
96% |
185% |
$362 |
$17 |
$345 |
$6 |
52 |
$6.6 |
-$17.6 |
1.0 |
2.3 |
| AVI BIOPHARMA |
$4.78 |
64% |
-18% |
$149 |
$8 |
$141 |
$0 |
89 |
$1.6 |
-$14.0 |
0.6 |
1.1 |
| BIOMIRA |
$1.56 |
32% |
36% |
$113 |
$78 |
$35 |
$0 |
115 |
$0.3 |
-$17.8 |
4.4 |
1.3 |
| BOSTON LIFE SCIENCES |
$1.58 |
53% |
2% |
$51 |
$11 |
$40 |
$0 |
14 |
$2.9 |
-$7.6 |
1.5 |
na |
| CELGENE CORP |
$45.33 |
93% |
84% |
$3,683 |
$258 |
$3,425 |
$400 |
560 |
$6.1 |
na |
na |
6.2 |
| CELL THERAPEUTICS |
$9.00 |
57% |
-6% |
$306 |
$79 |
$227 |
$190 |
286 |
$0.8 |
-$122.8 |
0.6 |
0.8 |
| CORIXA CORP |
$5.90 |
60% |
-19% |
$326 |
$41 |
$285 |
$106 |
366 |
$0.8 |
-$83.6 |
0.5 |
0.3 |
| CYTOGEN CORP |
$10.95 |
74% |
96% |
$141 |
$9 |
$132 |
$0 |
49 |
$2.7 |
-$7.8 |
1.2 |
0.4 |
| DENDREON |
$7.45 |
71% |
83% |
$333 |
$39 |
$294 |
$0 |
117 |
$2.5 |
-$33.2 |
1.2 |
2.1 |
| DUSA PHARMACEUTICALS |
$5.24 |
76% |
183% |
$73 |
$44 |
$29 |
$1 |
43 |
$0.7 |
-$15.2 |
2.9 |
0.8 |
| ENTREMED |
$3.91 |
60% |
170% |
$144 |
$1 |
$143 |
$0 |
58 |
$2.5 |
-$22.0 |
0.0 |
0.6 |
| EXEGENICS |
$0.55 |
61% |
19% |
$9 |
na |
na |
$0 |
8 |
na |
-$7.2 |
na |
0.1 |
| GENAERA |
$3.83 |
58% |
715% |
$172 |
$6 |
$166 |
$0 |
22 |
$7.5 |
-$6.1 |
1.0 |
0.9 |
| GENTA |
$10.15 |
58% |
-10% |
$770 |
$100 |
$669 |
$28 |
96 |
$7.0 |
-$12.6 |
8.0 |
2.4 |
| GERON CORP |
$11.89 |
71% |
205% |
$465 |
$99 |
$366 |
$16 |
92 |
$4.0 |
-$36.8 |
2.7 |
1.8 |
| ILEX ONCOLOGY |
$20.98 |
94% |
92% |
$818 |
$246 |
$572 |
$37 |
277 |
$2.1 |
-$35.2 |
7.0 |
1.8 |
| IMCLONE SYSTEMS |
$38.59 |
79% |
181% |
$2,893 |
$259 |
$2,634 |
$242 |
399 |
$6.6 |
-$138.0 |
1.9 |
8.4 |
| IMMUNOGEN |
$4.75 |
79% |
21% |
$193 |
$508 |
-$316 |
$0 |
1618 |
-$0.2 |
-$27.6 |
18.4 |
0.1 |
| IMMUNOMEDICS |
$3.77 |
39% |
-49% |
$188 |
$25 |
$163 |
$0 |
94 |
$1.7 |
-$14.8 |
1.7 |
1.2 |
| MAXIM PHARMACEUTICALS |
$7.25 |
95% |
104% |
$170 |
$76 |
$93 |
$1 |
115 |
$0.8 |
-$49.6 |
1.5 |
0.5 |
| MEDAREX |
$6.59 |
86% |
29% |
$519 |
$292 |
$227 |
$175 |
431 |
$0.5 |
-$116.5 |
2.5 |
0.8 |
| NAPRO BIOTHERAPEUTICS |
$1.79 |
56% |
6% |
$55 |
$4 |
$51 |
$25 |
151 |
$0.3 |
-$8.5 |
0.5 |
0.5 |
| NEOPHARM |
$17.93 |
96% |
22% |
$338 |
$64 |
$273 |
$0 |
100 |
$2.7 |
-$65.6 |
1.0 |
2.0 |
| NEORX CORP |
$4.10 |
57% |
494% |
$115 |
$17 |
$97 |
$5 |
36 |
$2.7 |
na |
na |
0.5 |
| OSI PHARMACEUTICALS |
$28.65 |
75% |
33% |
$1,037 |
$279 |
$758 |
$295 |
429 |
$1.8 |
-$300.0 |
0.9 |
1.5 |
| OXIGENE |
$9.84 |
51% |
556% |
$138 |
$9 |
$130 |
$0 |
10 |
$13.0 |
-$5.9 |
1.4 |
1.7 |
| PRAECIS PHARMACEUTICALS |
$7.65 |
97% |
137% |
$397 |
$166 |
$231 |
$33 |
110 |
$2.1 |
-$62.0 |
2.7 |
1.1 |
| PROGENICS PHARMACEUTICALS |
$17.15 |
82% |
129% |
$227 |
$77 |
$150 |
$0 |
100 |
$1.5 |
-$31.2 |
2.5 |
2.5 |
| QLT INC |
$16.47 |
90% |
66% |
$1,134 |
$137 |
$997 |
$172 |
336 |
$3.0 |
na |
na |
2.9 |
| SCICLONE PHARMACEUTICALS |
$7.23 |
74% |
82% |
$321 |
$66 |
$255 |
$6 |
97 |
$2.6 |
-$11.4 |
5.8 |
2.0 |
| SEATTLE GENETICS |
$6.39 |
91% |
97% |
$198 |
$16 |
$182 |
$0 |
97 |
$1.9 |
-$22.0 |
0.7 |
1.9 |
| SPECTRUM PHARMACEUTICALS |
$5.85 |
56% |
184% |
$38 |
$3 |
$35 |
$0 |
18 |
$2.0 |
-$6.6 |
0.4 |
0.3 |
| SUPERGEN |
$10.45 |
93% |
127% |
$371 |
$19 |
$352 |
$8 |
107 |
$3.3 |
-$50.0 |
0.4 |
1.3 |
| VERNALIS |
$2.52 |
70% |
-3% |
$43 |
$269 |
-$227 |
$5 |
96 |
-$2.4 |
-$59.4 |
4.5 |
0.1 |
| XENOVA GROUP PLC |
$1.96 |
27% |
-61% |
$34 |
$29 |
$5 |
$0 |
134 |
$0.0 |
-$23.6 |
1.2 |
1.2 |
| Cancer Average |
|
70% |
106% |
$449 |
$94 |
$366 |
$46 |
|
$2.6 |
-$45.1 |
2.5 |
1.5 |
| Cancer Median |
|
71% |
83% |
$195 |
$44 |
$182 |
$1 |
|
$2.1 |
-$27.6 |
1.3 |
1.2 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| CV THERAPEUTICS |
$17.41 |
42% |
-25% |
$506 |
$378 |
$127 |
$196 |
205 |
$0.6 |
-$91.4 |
4.1 |
0.9 |
| ENCYSIVE PHARMACEUTICALS |
$7.50 |
96% |
283% |
$335 |
$34 |
$301 |
$0 |
104 |
$2.9 |
-$56.8 |
0.6 |
1.6 |
| MEDICINES COMPANY |
$27.46 |
87% |
64% |
$1,300 |
$136 |
$1,164 |
$0 |
147 |
$7.9 |
-$26.3 |
5.2 |
2.9 |
| QUESTCOR PHARMACEUTICALS |
$0.69 |
51% |
-31% |
$31 |
$13 |
$18 |
$3 |
52 |
$0.3 |
-$8.4 |
1.5 |
0.3 |
| Cardiovascular Average |
|
69% |
73% |
$543 |
$140 |
$402 |
$50 |
|
$2.9 |
-$45.7 |
2.9 |
1.4 |
| Cardiovascular Median |
|
69% |
19% |
$420 |
$85 |
$214 |
$2 |
|
$1.8 |
-$41.6 |
2.8 |
1.2 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| ALBANY MOLECULAR RESEARCH |
$13.92 |
77% |
-7% |
$440 |
$132 |
$308 |
$66 |
860 |
$0.4 |
na |
na |
2.4 |
| ARGONAUT TECHNOLOGIES |
$1.29 |
74% |
43% |
$26 |
$22 |
$5 |
$12 |
215 |
$0.0 |
-$7.6 |
2.8 |
0.2 |
| ARQULE |
$5.04 |
78% |
-15% |
$142 |
$84 |
$58 |
$5 |
298 |
$0.2 |
na |
na |
0.6 |
| ARRAY BIOPHARMA |
$4.96 |
58% |
-41% |
$141 |
$35 |
$106 |
$0 |
245 |
$0.4 |
-$23.6 |
1.5 |
1.1 |
| BIOCRYST PHARMACEUTICALS |
$8.24 |
88% |
670% |
$146 |
$20 |
$126 |
$0 |
44 |
$2.9 |
-$13.0 |
1.5 |
1.1 |
| DISCOVERY PARTNERS |
$5.87 |
87% |
85% |
$145 |
$69 |
$76 |
$0 |
236 |
$0.3 |
-$5.2 |
13.3 |
0.7 |
| KOSAN BIOSCIENCES |
$9.60 |
97% |
46% |
$246 |
$53 |
$193 |
$0 |
112 |
$1.7 |
-$2.1 |
25.5 |
1.7 |
| PHARMACOPEIA |
$12.28 |
76% |
23% |
$293 |
$143 |
$150 |
$0 |
687 |
$0.2 |
-$14.8 |
9.6 |
1.0 |
| SYMYX TECHNOLOGIES |
$19.95 |
78% |
66% |
$628 |
$128 |
$501 |
$0 |
213 |
$2.4 |
na |
na |
4.1 |
| VERTEX PHARMACEUTICALS |
$8.80 |
46% |
-53% |
$684 |
$639 |
$45 |
$315 |
980 |
$0.0 |
-$164.0 |
3.9 |
0.9 |
| Chemistry Average |
|
76% |
82% |
$289 |
$132 |
$157 |
$40 |
|
$0.9 |
-$32.9 |
8.3 |
1.4 |
| Chemistry Median |
|
77% |
33% |
$196 |
$77 |
$116 |
$0 |
|
$0.3 |
-$13.0 |
3.9 |
1.1 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| ADOLOR |
$19.70 |
98% |
36% |
$624 |
$241 |
$383 |
$0 |
124 |
$3.1 |
-$55.2 |
4.4 |
2.4 |
| CEPHALON |
$46.83 |
83% |
-14% |
$2,606 |
$565 |
$2,041 |
$1,610 |
1271 |
$1.6 |
na |
na |
2.5 |
| DOV PHARMACEUTICALS |
$10.85 |
58% |
67% |
$178 |
$53 |
$126 |
$14 |
32 |
$3.9 |
-$18.8 |
2.8 |
2.2 |
| GUILFORD PHARMACEUTICALS |
$6.78 |
83% |
36% |
$197 |
$61 |
$136 |
$64 |
235 |
$0.6 |
-$22.1 |
2.7 |
0.6 |
| INDEVUS PHARMACEUTICALS |
$5.66 |
82% |
152% |
$266 |
$21 |
$245 |
$72 |
24 |
$10.2 |
-$48.2 |
0.4 |
0.9 |
| NEUROBIOLOGICAL TECHNOLOGIES |
$4.25 |
48% |
-32% |
$82 |
$4 |
$78 |
$0 |
11 |
$7.1 |
-$2.8 |
1.4 |
1.8 |
| NEUROCRINE BIOSCIENCES |
$53.24 |
88% |
16% |
$1,878 |
$496 |
$1,382 |
$0 |
276 |
$5.0 |
-$41.2 |
12.0 |
4.4 |
| NYMOX PHARMACEUTICAL |
$2.66 |
59% |
-33% |
$64 |
na |
na |
$0 |
228 |
na |
-$4.5 |
na |
na |
| PAIN THERAPEUTICS |
$6.07 |
68% |
67% |
$215 |
$95 |
$120 |
$0 |
30 |
$4.0 |
-$23.9 |
4.0 |
2.1 |
| PHARMOS CORP |
$3.70 |
74% |
187% |
$274 |
$12 |
$261 |
$42 |
67 |
$3.9 |
-$17.2 |
0.7 |
2.3 |
| STEMCELLS |
$2.15 |
69% |
169% |
$73 |
$2 |
$71 |
$0 |
28 |
$2.5 |
-$10.4 |
0.2 |
0.5 |
| TITAN PHARMACEUTICALS |
$2.79 |
70% |
5% |
$81 |
$59 |
$21 |
$0 |
72 |
$0.3 |
-$26.7 |
2.2 |
0.4 |
| CNS Average |
|
73% |
55% |
$545 |
$146 |
$442 |
$150 |
|
$3.8 |
-$24.6 |
3.1 |
1.8 |
| CNS Median |
|
72% |
36% |
$206 |
$59 |
$136 |
$0 |
|
$3.9 |
-$22.1 |
2.5 |
2.1 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| BIOSOURCE INTERNATIONAL |
$7.08 |
89% |
21% |
$66 |
$4 |
$62 |
$0 |
296 |
$0.2 |
na |
na |
1.5 |
| GTC BIOTHERAPEUTICS |
$2.85 |
66% |
142% |
$91 |
$42 |
$49 |
$13 |
182 |
$0.3 |
-$24.0 |
1.7 |
0.5 |
| HARVARD BIOSCIENCE |
$7.35 |
83% |
115% |
$221 |
$10 |
$211 |
$0 |
386 |
$0.5 |
na |
na |
1.3 |
| ICON PLC |
$42.00 |
93% |
80% |
$497 |
$54 |
na |
$0 |
1637 |
na |
na |
na |
na |
| INVITROGEN CORP |
$67.89 |
99% |
143% |
$3,686 |
$781 |
$2,905 |
$697 |
2744 |
$1.1 |
na |
na |
2.0 |
| MOLECULAR DEVICES CORP |
$20.02 |
96% |
5% |
$297 |
$58 |
$239 |
$0 |
433 |
$0.6 |
na |
na |
1.6 |
| NEOSE TECHNOLOGIES |
$8.70 |
62% |
-37% |
$173 |
$42 |
$132 |
$8 |
124 |
$1.1 |
-$39.7 |
1.1 |
0.9 |
| PARAXEL INTERNATIONAL |
$18.29 |
98% |
47% |
$474 |
$79 |
$395 |
$1 |
4930 |
$0.1 |
na |
na |
2.8 |
| PHARMACEUTICAL PRODUCT DEVELOP |
$29.72 |
92% |
-1% |
$1,664 |
$203 |
$1,461 |
$6 |
5300 |
$0.3 |
na |
na |
6.1 |
| QIAGEN NV |
$11.22 |
85% |
73% |
$1,634 |
$41 |
$1,593 |
$0 |
1651 |
$1.0 |
na |
na |
32.9 |
| CRO/Service/Supply Average |
|
86% |
59% |
$880 |
$131 |
$783 |
$73 |
|
$0.6 |
-$31.8 |
1.4 |
5.5 |
| CRO/Service/Supply Median |
|
90% |
60% |
$386 |
$48 |
$239 |
$0 |
|
$0.5 |
-$31.8 |
1.4 |
1.6 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| ABGENIX |
$11.52 |
68% |
24% |
$1,016 |
$280 |
$737 |
$200 |
387 |
$1.9 |
-$264.4 |
1.1 |
1.1 |
| AEROGEN |
$1.81 |
28% |
-36% |
$37 |
$1 |
$36 |
$0 |
80 |
$0.5 |
-$14.6 |
0.1 |
0.3 |
| ALKERMES |
$12.86 |
79% |
44% |
$1,150 |
$128 |
$1,022 |
$385 |
520 |
$2.0 |
-$120.0 |
1.1 |
2.4 |
| ANDRX |
$21.95 |
85% |
51% |
$1,581 |
$81 |
$1,500 |
$0 |
2100 |
$0.7 |
na |
na |
3.2 |
| ARADIGM CORP |
$1.77 |
50% |
-7% |
$97 |
$29 |
$68 |
$0 |
285 |
$0.2 |
-$29.6 |
1.0 |
0.4 |
| ATRIX LABORATORIES |
$20.52 |
66% |
12% |
$440 |
$95 |
$345 |
$0 |
167 |
$2.1 |
-$2.9 |
33.0 |
1.7 |
| BIODELIVERY SCIENCES |
$2.12 |
42% |
-18% |
$15 |
$5 |
$10 |
$0 |
19 |
$0.5 |
-$1.2 |
4.4 |
1.1 |
| CIMA LABS |
$33.00 |
99% |
24% |
$479 |
$75 |
$404 |
$0 |
219 |
$1.8 |
na |
na |
2.0 |
| DEPOMED |
$6.70 |
79% |
274% |
$226 |
$46 |
$180 |
$0 |
51 |
$3.5 |
-$28.8 |
1.6 |
3.3 |
| DOR BIOPHARMA |
$0.74 |
43% |
85% |
$26 |
$2 |
$23 |
$0 |
5 |
$4.7 |
-$3.2 |
0.7 |
0.3 |
| DURECT |
$2.22 |
50% |
-17% |
$114 |
$32 |
$81 |
$50 |
6 |
$13.6 |
-$20.5 |
1.6 |
0.6 |
| EMISPHERE TECHNOLOGIES |
$5.99 |
65% |
51% |
$109 |
$41 |
$67 |
$34 |
124 |
$0.5 |
-$45.8 |
0.9 |
0.3 |
| ENZON PHARMACEUTICALS |
$10.79 |
56% |
-42% |
$470 |
$140 |
$330 |
$0 |
127 |
$2.6 |
na |
na |
1.8 |
| FLAMEL TECHNOLOGIES SA |
$28.89 |
66% |
614% |
$472 |
$77 |
$395 |
$2 |
150 |
$2.6 |
-$8.9 |
8.7 |
9.2 |
| GENEREX BIOTECHNOLOGY |
$1.62 |
55% |
-23% |
$45 |
$8 |
$36 |
$2 |
23 |
$1.6 |
-$12.6 |
0.7 |
0.5 |
| GENETRONICS BIOMEDICAL LTD |
$1.02 |
70% |
264% |
$60 |
$1 |
$59 |
$0 |
26 |
$2.3 |
-$5.6 |
0.1 |
1.0 |
| KOS PHARMACEUTICALS |
$44.18 |
93% |
114% |
$972 |
$203 |
$769 |
$0 |
726 |
$1.1 |
na |
na |
4.4 |
| MACROCHEM CORP |
$1.15 |
70% |
102% |
$38 |
$7 |
$31 |
$0 |
13 |
$2.4 |
-$2.2 |
3.2 |
0.5 |
| MEDICIS PHARMACEUTICAL |
$65.79 |
95% |
42% |
$1,804 |
$552 |
$1,252 |
$400 |
279 |
$4.5 |
na |
na |
4.1 |
| NASTECH PHARMACEUTICAL |
$10.20 |
85% |
1% |
$121 |
$14 |
$107 |
$4 |
63 |
$1.7 |
-$11.7 |
1.2 |
1.9 |
| NEKTAR THERAPEUTICS |
$13.20 |
86% |
45% |
$741 |
$239 |
$502 |
$399 |
680 |
$0.7 |
-$52.0 |
4.6 |
1.0 |
| NOVAVAX |
$5.60 |
65% |
48% |
$169 |
$9 |
$160 |
$41 |
121 |
$1.3 |
-$20.0 |
0.5 |
1.4 |
| NOVEN PHARMACEUTICALS |
$13.86 |
93% |
31% |
$312 |
$68 |
$244 |
$0 |
274 |
$0.9 |
na |
na |
4.0 |
| SEPRACOR |
$24.40 |
74% |
155% |
$2,071 |
$448 |
$1,623 |
$983 |
818 |
$2.0 |
-$135.2 |
3.3 |
2.6 |
| Delivery Average |
|
69% |
77% |
$523 |
$108 |
$416 |
$104 |
|
$2.3 |
-$43.3 |
3.8 |
2.1 |
| Delivery Median |
|
69% |
43% |
$269 |
$57 |
$212 |
$0 |
|
$1.9 |
-$17.3 |
1.1 |
1.6 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| ADVANCED MAGNETICS |
$14.10 |
93% |
185% |
$109 |
$16 |
$93 |
$0 |
23 |
$4.1 |
na |
na |
2.5 |
| BIOSITE |
$26.57 |
46% |
-7% |
$414 |
$79 |
$335 |
$7 |
513 |
$0.7 |
na |
na |
5.1 |
| CHOLESTECH CORP |
$7.71 |
60% |
17% |
$108 |
$17 |
$91 |
$0 |
220 |
$0.4 |
na |
na |
1.3 |
| DIAGNOSTIC PRODUCTS CORP |
$44.97 |
99% |
24% |
$1,296 |
$49 |
$1,247 |
$0 |
2100 |
$0.6 |
na |
na |
21.1 |
| DIGENE CORP |
$39.39 |
80% |
385% |
$738 |
$31 |
$707 |
$3 |
243 |
$2.9 |
na |
na |
6.4 |
| ENZO BIOCHEM |
$18.22 |
64% |
26% |
$547 |
$77 |
$470 |
$0 |
231 |
$2.0 |
-$10.1 |
7.6 |
3.4 |
| EPIX MEDICAL |
$17.75 |
86% |
92% |
$391 |
$18 |
$373 |
$0 |
93 |
$4.0 |
-$13.6 |
1.3 |
3.3 |
| EXACT SCIENCES |
$10.00 |
56% |
-18% |
$192 |
$27 |
$165 |
$0 |
75 |
$2.2 |
-$31.5 |
0.9 |
1.6 |
| GEN-PROBE |
$33.75 |
97% |
198% |
$1,640 |
$8 |
na |
$0 |
186 |
na |
na |
na |
na |
| HYCOR BIOMEDICAL |
$4.20 |
65% |
95% |
$34 |
$5 |
$29 |
$0 |
148 |
$0.2 |
na |
na |
2.6 |
| IGEN INTERNATIONAL |
$58.94 |
98% |
56% |
$1,472 |
$34 |
$1,437 |
$45 |
370 |
$3.9 |
-$28.8 |
1.2 |
6.1 |
| IMMUCOR |
$22.85 |
98% |
-1% |
$446 |
$9 |
$437 |
$20 |
481 |
$0.9 |
na |
na |
14.7 |
| LUMINEX |
$10.50 |
97% |
112% |
$317 |
$38 |
$280 |
$0 |
117 |
$2.4 |
-$7.6 |
4.9 |
2.6 |
| MARTEK BIOSCIENCES CORP |
$59.90 |
99% |
159% |
$1,650 |
$196 |
$1,454 |
$0 |
198 |
$7.3 |
na |
na |
5.1 |
| MATRITECH |
$2.02 |
67% |
3% |
$72 |
$5 |
$67 |
$4 |
50 |
$1.3 |
-$7.2 |
0.7 |
0.9 |
| MERIDIAN BIOSCIENCE |
$10.32 |
90% |
54% |
$152 |
$5 |
$147 |
$23 |
350 |
$0.4 |
na |
na |
6.4 |
| ORASURE |
$8.40 |
77% |
40% |
$369 |
$63 |
$306 |
$3 |
187 |
$1.6 |
na |
na |
2.4 |
| QUIDEL CORP |
$8.46 |
91% |
173% |
$247 |
$13 |
$234 |
$10 |
330 |
$0.7 |
-$1.5 |
8.9 |
1.8 |
| SONUS PHARMACEUTICALS |
$4.94 |
77% |
76% |
$89 |
$11 |
$78 |
$0 |
37 |
$2.1 |
-$12.4 |
0.9 |
1.6 |
| TRINITY BIOTECH PLC |
$3.49 |
79% |
168% |
$150 |
$1 |
$148 |
$0 |
332 |
$0.4 |
na |
na |
6.9 |
| Diagnostic/imag. Average |
|
81% |
92% |
$522 |
$35 |
$426 |
$6 |
|
$2.0 |
-$14.1 |
3.3 |
5.0 |
| Diagnostic/imag. Median |
|
83% |
66% |
$343 |
$17 |
$280 |
$0 |
|
$1.6 |
-$11.2 |
1.2 |
3.3 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| AASTROM BIOSCIENCES |
$1.43 |
78% |
147% |
$102 |
$7 |
$94 |
$0 |
44 |
$2.1 |
-$11.2 |
0.7 |
0.9 |
| AVIGEN |
$6.51 |
63% |
-18% |
$132 |
$98 |
$33 |
$8 |
102 |
$0.3 |
-$24.2 |
4.1 |
0.6 |
| CELL GENESYS |
$12.70 |
83% |
-3% |
$504 |
$142 |
$362 |
$60 |
336 |
$1.1 |
-$76.0 |
1.9 |
1.7 |
| CORAUTUS GENETICS |
$5.86 |
90% |
139% |
$59 |
$0 |
$59 |
$0 |
17 |
$3.5 |
-$11.6 |
0.0 |
0.9 |
| GENVEC |
$3.51 |
78% |
-5% |
$179 |
$6 |
$173 |
$6 |
95 |
$1.8 |
-$24.0 |
0.2 |
1.6 |
| INTROGEN |
$6.99 |
62% |
197% |
$165 |
$15 |
$150 |
$7 |
50 |
$3.0 |
-$16.2 |
0.9 |
1.8 |
| SIRNA THERAPEUTICS |
$5.90 |
52% |
89% |
$187 |
$37 |
$149 |
$4 |
81 |
$1.8 |
-$31.2 |
1.2 |
0.9 |
| TARGETED GENETICS CORP |
$2.09 |
47% |
267% |
$138 |
$12 |
$126 |
$0 |
125 |
$1.0 |
-$3.1 |
3.9 |
0.6 |
| TRANSGENE SA |
$2.61 |
56% |
37% |
$79 |
$0 |
$79 |
$0 |
318 |
$0.2 |
-$20.4 |
0.0 |
na |
| TRANSKARYOTIC THERAPIES |
$12.99 |
88% |
37% |
$454 |
$191 |
$263 |
$0 |
345 |
$0.8 |
-$84.0 |
2.3 |
0.7 |
| VALENTIS |
$2.50 |
29% |
-65% |
$14 |
$4 |
$11 |
$0 |
58 |
$0.2 |
-$8.2 |
0.5 |
0.1 |
| VICAL |
$5.00 |
64% |
30% |
$100 |
$95 |
$6 |
$0 |
165 |
$0.0 |
-$27.6 |
3.4 |
0.5 |
| Gene therapy Average |
|
66% |
71% |
$176 |
$51 |
$125 |
$7 |
|
$1.3 |
-$28.1 |
1.6 |
0.9 |
| Gene therapy Median |
|
64% |
37% |
$135 |
$14 |
$110 |
$0 |
|
$1.0 |
-$22.2 |
1.1 |
0.9 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| AVANT IMMUNOTHERAPEUTICS |
$2.70 |
78% |
82% |
$175 |
$17 |
$158 |
$0 |
66 |
$2.4 |
-$12.8 |
1.3 |
0.8 |
| CUBIST PHARMACEUTICALS |
$12.44 |
84% |
5% |
$497 |
$89 |
$408 |
$208 |
204 |
$2.0 |
-$100.0 |
0.9 |
2.0 |
| EPIMMUNE |
$1.81 |
42% |
51% |
$24 |
$6 |
$19 |
$0 |
52 |
$0.4 |
-$8.1 |
0.7 |
0.1 |
| GENELABS TECHNOLOGIES |
$1.76 |
84% |
-6% |
$152 |
$28 |
$123 |
$0 |
94 |
$1.3 |
-$16.8 |
1.7 |
0.8 |
| IMMUNE RESPONSE CORP |
$1.83 |
46% |
38% |
$75 |
na |
na |
$5 |
43 |
na |
-$37.2 |
na |
0.3 |
| INTERMUNE |
$21.27 |
67% |
-30% |
$677 |
$257 |
$420 |
$150 |
250 |
$1.7 |
-$81.2 |
3.2 |
1.4 |
| INTRABIOTICS |
$13.62 |
87% |
266% |
$72 |
$8 |
$64 |
$0 |
8 |
$8.0 |
-$15.2 |
0.5 |
0.3 |
| MEDIMMUNE |
$23.31 |
55% |
-12% |
$5,770 |
$581 |
$5,190 |
$717 |
1505 |
$3.4 |
na |
na |
2.2 |
| NABI BIOPHARMACEUTICALS |
$10.91 |
89% |
50% |
$515 |
$47 |
$468 |
$0 |
722 |
$0.6 |
na |
na |
3.1 |
| SIGA TECHNOLOGIES |
$1.80 |
61% |
59% |
$34 |
$0 |
$33 |
$0 |
17 |
$2.0 |
-$4.8 |
0.1 |
1.0 |
| TRIMERIS |
$22.65 |
41% |
-53% |
$488 |
$122 |
$366 |
$0 |
129 |
$2.8 |
-$72.0 |
1.7 |
1.2 |
| VAXGEN |
$8.15 |
37% |
-58% |
$170 |
$3 |
$167 |
$0 |
117 |
$1.4 |
-$30.1 |
0.1 |
1.1 |
| VICURON |
$18.07 |
95% |
60% |
$973 |
$203 |
$771 |
$0 |
28 |
$27.5 |
-$103.2 |
2.0 |
2.2 |
| VION PHARMACEUTICALS |
$1.64 |
55% |
156% |
$64 |
$5 |
$59 |
$0 |
34 |
$1.7 |
-$12.5 |
0.4 |
0.6 |
| VIROLOGIC |
$2.67 |
92% |
76% |
$118 |
$7 |
$111 |
$0 |
170 |
$0.7 |
-$10.8 |
0.7 |
1.0 |
| VIROPHARMA |
$2.80 |
59% |
76% |
$73 |
$137 |
-$64 |
$130 |
139 |
-$0.5 |
-$28.9 |
4.7 |
0.3 |
| XOMA LTD |
$6.89 |
64% |
24% |
$573 |
$99 |
$474 |
$71 |
229 |
$2.1 |
-$64.0 |
1.5 |
1.1 |
| Infection Average |
|
67% |
46% |
$615 |
$100 |
$548 |
$75 |
|
$3.6 |
-$39.8 |
1.4 |
1.1 |
| Infection Median |
|
64% |
50% |
$170 |
$38 |
$163 |
$0 |
|
$1.8 |
-$28.9 |
1.1 |
1.0 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| AMYLIN PHARMACEUTICALS |
$25.44 |
83% |
47% |
$2,378 |
$418 |
$1,960 |
$175 |
350 |
$5.6 |
-$148.0 |
2.8 |
3.4 |
| BIOMARIN PHARMACEUTICAL |
$7.25 |
53% |
-14% |
$463 |
$155 |
$308 |
$125 |
219 |
$1.4 |
-$39.6 |
3.9 |
1.1 |
| INSMED INC |
$2.91 |
78% |
355% |
$112 |
$19 |
$93 |
$0 |
23 |
$4.0 |
-$13.0 |
1.4 |
na |
| KERYX BIOPHARMACEUTICALS |
$4.45 |
77% |
153% |
$95 |
$21 |
$75 |
$0 |
24 |
$3.1 |
-$6.0 |
3.4 |
1.3 |
| NPS PHARMACEUTICALS |
$30.10 |
90% |
2% |
$1,111 |
$145 |
$966 |
$170 |
183 |
$5.3 |
-$256.0 |
0.6 |
2.3 |
| SAVIENT PHARMACEUTICALS |
$4.94 |
73% |
17% |
$292 |
$26 |
$266 |
$11 |
490 |
$0.5 |
na |
na |
1.4 |
| VIVUS |
$3.61 |
61% |
-19% |
$136 |
$20 |
$116 |
$0 |
119 |
$1.0 |
-$11.7 |
1.7 |
1.0 |
| ZONAGEN |
$1.88 |
95% |
71% |
$22 |
$24 |
-$2 |
$0 |
4 |
-$0.6 |
-$2.7 |
8.8 |
0.2 |
| Metabolic Average |
|
76% |
76% |
$576 |
$103 |
$473 |
$60 |
|
$2.5 |
-$68.1 |
3.2 |
1.5 |
| Metabolic Median |
|
78% |
47% |
$136 |
$24 |
$116 |
$1 |
|
$1.4 |
-$12.3 |
2.3 |
1.2 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| BIOPURE CORP |
$3.05 |
34% |
-35% |
$135 |
$4 |
$132 |
$10 |
249 |
$0.5 |
-$45.2 |
0.1 |
0.3 |
| BIORELIANCE CORP |
$46.30 |
98% |
82% |
$388 |
$39 |
$349 |
$10 |
638 |
$0.5 |
na |
na |
6.9 |
| BIOTIME |
$1.63 |
55% |
-4% |
$22 |
$0 |
$22 |
$2 |
12 |
$1.9 |
-$3.0 |
0.0 |
0.7 |
| CERUS |
$3.52 |
14% |
-86% |
$78 |
$134 |
-$56 |
$51 |
158 |
-$0.4 |
-$66.8 |
2.0 |
2.0 |
| COLLAGENEX PHARMACEUTICALS |
$10.39 |
62% |
11% |
$144 |
$11 |
$132 |
$0 |
148 |
$0.9 |
na |
na |
1.7 |
| COLUMBIA LABORATORIES |
$5.12 |
32% |
31% |
$203 |
$2 |
$201 |
$10 |
25 |
$8.0 |
-$18.0 |
0.1 |
1.6 |
| CURIS |
$5.13 |
87% |
366% |
$207 |
$31 |
$175 |
$7 |
64 |
$2.7 |
-$20.2 |
1.6 |
0.3 |
| CYANOTECH CORP |
$1.00 |
74% |
113% |
$18 |
$0 |
$18 |
$4 |
58 |
$0.3 |
-$0.6 |
0.9 |
0.7 |
| CYTRX CORP |
$2.22 |
59% |
640% |
$75 |
$1 |
$74 |
$0 |
3 |
$24.7 |
-$20.2 |
0.0 |
0.9 |
| DISCOVERY LABORATORIES |
$8.06 |
94% |
193% |
$341 |
$9 |
$332 |
$0 |
65 |
$5.1 |
-$19.2 |
0.5 |
3.9 |
| INSITE VISION |
$0.38 |
38% |
-49% |
$10 |
$0 |
$10 |
$0 |
41 |
$0.2 |
-$7.6 |
0.0 |
0.1 |
| INSPIRE PHARMACEUTICALS |
$17.62 |
82% |
112% |
$561 |
$99 |
$462 |
$0 |
54 |
$8.6 |
-$26.4 |
3.8 |
2.8 |
| INTEGRA LIFESCIENCES |
$31.92 |
91% |
82% |
$867 |
$135 |
$732 |
$105 |
760 |
$1.0 |
na |
na |
2.9 |
| NORTHFIELD LABORATORIES |
$5.80 |
58% |
41% |
$94 |
$9 |
$84 |
$0 |
60 |
$1.4 |
-$11.6 |
0.8 |
0.8 |
| OSTEOTECH |
$7.75 |
48% |
36% |
$133 |
$17 |
$115 |
$15 |
338 |
$0.3 |
na |
na |
2.1 |
| PALATIN TECHNOLOGIES |
$2.99 |
51% |
47% |
$134 |
$19 |
$114 |
$0 |
46 |
$2.5 |
-$25.6 |
0.7 |
1.2 |
| PHARMACYCLICS |
$6.40 |
96% |
83% |
$104 |
$87 |
$17 |
$0 |
133 |
$0.1 |
-$30.1 |
2.9 |
0.4 |
| REPLIGEN CORP |
$4.80 |
57% |
60% |
$143 |
$15 |
$128 |
$0 |
39 |
$3.3 |
-$8.1 |
1.9 |
0.8 |
| SALIX PHARMACEUTICALS |
$19.10 |
89% |
105% |
$419 |
$33 |
$386 |
$0 |
135 |
$2.9 |
-$28.0 |
1.2 |
3.2 |
| TRIPOS |
$7.05 |
72% |
-21% |
$63 |
$11 |
$53 |
$4 |
337 |
$0.2 |
na |
na |
1.8 |
| Other Average |
|
64% |
90% |
$207 |
$33 |
$174 |
$11 |
|
$3.2 |
-$22.0 |
1.1 |
1.8 |
| Other Median |
|
62% |
60% |
$134 |
$11 |
$115 |
$1 |
|
$1.0 |
-$19.7 |
0.8 |
1.2 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| AMGEN |
$58.14 |
80% |
23% |
$75,001 |
$5,369 |
$69,632 |
$3,056 |
10100 |
$6.9 |
na |
na |
3.8 |
| BIOGEN IDEC |
$38.57 |
76% |
17% |
$5,766 |
$2,394 |
$3,372 |
$908 |
3628 |
$0.9 |
na |
na |
3.2 |
| CHIRON CORP |
$53.81 |
94% |
34% |
$10,101 |
$905 |
$9,197 |
$564 |
4044 |
$2.3 |
na |
na |
4.1 |
| GENENTECH |
$83.78 |
95% |
154% |
$43,834 |
$1,217 |
$42,616 |
$0 |
5252 |
$8.1 |
na |
na |
6.6 |
| GENZYME CORP |
$45.84 |
87% |
40% |
$10,275 |
$546 |
$9,728 |
$600 |
5600 |
$1.7 |
na |
na |
3.7 |
| GILEAD SCIENCES |
$58.75 |
83% |
49% |
$11,897 |
$712 |
$11,185 |
$595 |
1250 |
$8.9 |
na |
na |
11.7 |
| Revenue-driven Average |
|
86% |
53% |
$26,146 |
$1,857 |
$24,288 |
$954 |
|
$4.8 |
na |
na |
5.5 |
| Revenue-driven Median |
|
85% |
37% |
$11,086 |
$1,061 |
$10,457 |
$598 |
|
$4.6 |
na |
na |
4.0 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| DIVERSA |
$8.19 |
68% |
-29% |
$352 |
$142 |
$210 |
$11 |
279 |
$0.8 |
-$50.4 |
2.8 |
1.0 |
| DYAX |
$6.15 |
82% |
203% |
$152 |
$25 |
$127 |
$18 |
244 |
$0.5 |
-$24.4 |
1.0 |
1.0 |
| ISIS PHARMACEUTICALS |
$5.89 |
66% |
-32% |
$327 |
$246 |
$81 |
$200 |
523 |
$0.2 |
-$93.2 |
2.6 |
0.5 |
| LIGAND PHARMACEUTICALS |
$13.27 |
80% |
156% |
$970 |
$22 |
$948 |
$159 |
402 |
$2.4 |
-$48.0 |
0.5 |
1.4 |
| NEUROGEN CORP |
$6.23 |
81% |
8% |
$112 |
$63 |
$48 |
$14 |
163 |
$0.3 |
-$31.2 |
2.0 |
0.6 |
| ONYX PHARMACEUTICALS |
$27.24 |
94% |
296% |
$801 |
$102 |
$698 |
$0 |
89 |
$7.8 |
-$45.6 |
2.2 |
4.0 |
| REGENERON PHARMACEUTICALS |
$13.00 |
58% |
-40% |
$719 |
$283 |
$436 |
$200 |
266 |
$1.6 |
-$114.8 |
2.5 |
1.2 |
| TULARIK |
$14.70 |
97% |
53% |
$873 |
$237 |
$635 |
$0 |
430 |
$1.5 |
-$103.6 |
2.3 |
2.1 |
| Screening Average |
|
78% |
77% |
$538 |
$140 |
$398 |
$75 |
|
$1.9 |
-$63.9 |
2.0 |
1.5 |
| Screening Median |
|
80% |
31% |
$536 |
$122 |
$323 |
$16 |
|
$1.1 |
-$49.2 |
2.3 |
1.1 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Company |
Close 11/26/03 |
% 52wk High |
% change from 11/29/02 |
Market Cap ($M) |
Pro forma cash ($M) |
Tech Value ($M) |
LT Debt plus Convert |
# of Staff |
Tech Value/ Staff ($M) |
Est. Burn Rate ($M) |
Survival Index (Yrs) |
Equity Multiple |
| CARRINGTON LABORATORIES |
$4.30 |
67% |
310% |
$44 |
$2 |
$42 |
$2 |
252 |
$0.2 |
-$1.2 |
1.7 |
0.8 |
| CELLEGY PHARMACEUTICALS |
$2.95 |
48% |
-21% |
$59 |
$7 |
$52 |
$0 |
23 |
$2.3 |
-$18.3 |
0.4 |
0.6 |
| CURATIVE HEALTH SERVICES |
$13.08 |
66% |
-15% |
$166 |
$5 |
$161 |
$24 |
340 |
$0.5 |
na |
na |
1.6 |
| LIFECELL CORP |
$5.44 |
74% |
69% |
$138 |
$6 |
$132 |
$1 |
155 |
$0.9 |
na |
na |
1.8 |
| LIFECORE BIOMEDICAL |
$6.60 |
71% |
-20% |
$85 |
$3 |
$82 |
$6 |
199 |
$0.4 |
-$2.3 |
1.2 |
1.7 |
| Wound Average |
|
65% |
64% |
$99 |
$5 |
$94 |
$7 |
|
$0.8 |
-$7.3 |
1.1 |
1.3 |
| Wound Median |
|
67% |
-15% |
$85 |
$5 |
$82 |
$2 |
|
$0.5 |
-$2.3 |
1.2 |
1.6 |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Grand Average |
|
74% |
77% |
$1,081 |
$145 |
$955 |
$73 |
|
$2.3 |
-$40.1 |
2.8 |
2.1 |
| Grand Median |
|
76% |
47% |
$246 |
$47 |
$180 |
$1 |
|
$1.4 |
-$25.6 |
1.6 |
1.4 |
originally published 12/05/2003 |