Good news on Vaxgen

In today’s SF Chronicle, Tom Abate writes that VaxGen is hedging its bets with a new venture. Abate is referring to Celltrion, the recently announced joint venture with some Korean firms to build biotech manufacturing plants. The primary purpose of these plants will be to produce AIDSVax, the vaccine that Vaxgen currently has in Phase III human clinical trials, but will be used for contract production for other biotech firms should the vaccine not receive FDA approval after the trials end later this year. In one of the more important bits of information, which abate treats as almost a throwaway line, Sharon Seiler of Punk Zeigel & Company is quoted as saying that VaxGen could be a $38 stock. As opposed to $11.60 as of this writing. Let’s just say $38 would make Bill a yummy profit.