| We were able to conduct interviews
with management from every company in our Model Portfolio but Titan
Pharmaceutical (AMEX:TTP), who refused, and Nabi (NABI), who never responded.
These interviews were illuminating in nearly every case and we believe you'll find the
subsequent updates worthwhile. The companies
are in a specific order. Our Model Portfolio is predicated on the idea the only
safe investment in development-stage biotechnology companies is a balanced and
well-diversified one. Without limiting the importance of that point, we also realize most
of our Subscribers will need to pick and choose among companies in order to begin the
diversification process.
We've organized the issue with this process in mind. We've
placed the companies in order from most- to least promising. We've chosen ID Biomedical to
lead the pack, for reasons that will become obvious when you read the story. Truth be
told, it would be hard to go wrong by starting your diversification program with any of
the top three companies in this issue.
In addition to company-specific queries, the NIBM Research
Team asked each management team the same set of five questions. We'll share the answers to
those questions in each section. In a couple of weeks, we'll share with Subscribers our
commentary on these answers - sort of a post-game summary of the interesting things we
heard from management teams around the country.
Three interviews into this process we realized the volume of
information we were receiving was more than we expected. Our original idea of providing
two-three pages of technology summary for each company quickly went out the window. We'll
certainly speak about technology and science, but expect to see many instances where we
refer you to a previous NIBM Newsletter for specific details. All are available to
Subscribers on the Biotech Monthly web site. For our single-issue purchasers, perhaps you
will consider joining our family of Subscribers so you can access those publications.
One priority in each conversation was to obtain updated
development timelines for each company. We also tried to focus on timing for near-term
events such as presentations at scientific conferences. We'll have a table and a
discussion of the timelines in each of the segments.
Because this issue is so lengthy, we've eliminated the
Recommended Readings section. Biotech Monthly President David Miller's Macro Market
Commentary column has been included, however.
We hope you'll enjoy this issue. While it is a review, there
is enough new information in here to be worthwhile. We're making a few important changes
to our Model Portfolio along the way, so pay attention for those.
As always, we're happy to receive any questions and/or
comments. Just send us an e-mail. |
