Tuesday, May 24, 2005
Why are there no bloggers in the biotech industry?
I was looking through blogger.com today looking for other blogs that had a biotech flavor to them. Unfortunately, I did not come up with anything substantial. The majority of blogs that I have seen out there in cyberspace seems to focus only on internet stuff (search engines, computer technology, etc. . .). What sites there are that aren't filled with computer jargon is filled with the ramblings of lunatics, goths, weirdos, and "artists (painters, poets, writers, etc. . .). Question is, which of these two categories does my blog fit into. OK, fair enough, I'll take the designation as a rambling lunatic.
So whats new in the Biotech industry?
The vultures seem to be circling Able Labs, I count at least five law firms filing class action lawsuits according to their finance page at Yahoo!. I don't know what is worse, the implosion of the company or the vulture lawyers gathering over the fresh roadkill.
Well, I couldn't stand it today, I had to sell my Genentech stock. With its announcement of positive data for Lucentis (a treatment for blindness), the 5% jump in stock price officially made it overvalued. I think it'll dip back at least to $55/60 per share, I may jump back in then. I remember the analysts were screaming that it was overvalued at $50. Here we are at a price 60% above that, oh well, that just goes to show how much you should trust stock market analysts.
Well, its supper time, maybe I'll write a little more afterwards.
