justa guess

4 Comments

    • Icahn Steals The Future of Enzon Pharmaceuticals [view article]
      i agree iwth you on some points , but your argument on the enterprise value of the small pharma is off the mark. They just sold 1/4 of the peg royalty stream for over 100 million. Cimzia could easily add 20 mill a year and hematide has the potential to be a blockbuster as well contributing millions a year in rev. this stub will have easily 1 dollar a share in earnings after ALL expenses(20 mill in R and D included. It is definitely not a growth story but it certainly will be a clean ,sell able company. i think it should trade at 10 bucks easy with no take out premium (which i consider very likely in less than a year after the spin. Then we are left with a stub with, as u said, unproven high tech pipe. I think however that Bucky knows already that sn 38 will have some real value before his 3 years of money runs out. So in the end i think that anything up to 12 dollars a share right now is easy money. After that we are going to need to see some data this year. May 09 06:38 PM
    • Icahn Steals The Future of Enzon Pharmaceuticals [view article]
      moreover, I think that this split is a better( tax efficient )way of selling off the less exciting part of the company. May 08 09:08 AM
    • Icahn Steals The Future of Enzon Pharmaceuticals [view article]
      He implied it was down 8% on the day. It was actually up on the day from the previous night's close. May 08 09:03 AM
    • Icahn Steals The Future of Enzon Pharmaceuticals [view article]
      i am no fan of Carl's but you have missed some simple facts. Enzn's was trading with a market cap that gave zero value to its pipeline. This was primarily due to the fact that originally it was considered small pharma and carried the corresponding low PE. I think it will be much cleaner(tax efficient) to sell the pharma part of their company once the split is done. You have not included the steady royalty stream with their 4(albeit minor) drugs. This part of the company could easily sell for 400 million based on the 1/4 sale of the peg stream alone. I don't know what tape u were watching yesterday but ENZN was up with the market in free fall. I think u need to do a little more work on this one. May 08 07:35 AM
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