Wow, I'm going to have to transfer some funds and start buying...

Wow, I'm going to have to transfer some funds and start buying Biota. Poor management or not, 43c and below represents true value in a biotech at cash backing.

I don't expect huge sales in Relenza over the remaining patent life, but we could get some nice surprises from Japan and the like.

Cash burn will dramatically drop now litigation has ended. Most of the pipe is funded by partners and included LANI's phase III trial soon to be started in Asia.

Any guesses to how low this one could go? The larger the discount the better. Amazing leverage.

Also, I would have to guess that management are looking to recommence a more aggressive buy back. At these prices they can buy back all the stock, and if not they may be purchased outright.

Interesting times for Biota.

Are there any other Biotechs like this? Looking at PXS but the market still assigns $200m of value above cash for that one. Novogen is getting close, as are some other small plays.

Several small gold stocks are in a similar position... good assets in any climate, and full of cash.