Maxygen, Inc. (NASDAQ:MAXY)

Maxygen is a rather puzzling company that seems to be operating more as a savings account than a developmental biotech. For the last year the company has engaged in minimal activity related to research or their products in development, which has been reflected in their minimal expenditures. The only pipeline development since last March was a fruitless attempt at a BARDA contract for G-CSF analogue Maxy-G34 for radiation sickness.

What Maxygen seems to be most interested in right now is hoarding cash, with the exception of buying back their own shares. It's a shame, really, since the company has done well with their developmental efforts. In 2008 the company sold their early stage developmental hemophilia treatment Maxy-VII to Bayer for 90M, and in early 2011 Astellas exercised an option to purchase the Perseid joint venture for 76M.

The pipeline sales have left Maxygen with Maxy-G34 and 163M in cash, and a market cap below cash at 155M. The company doesn't seem to have much plans to develop Maxy-G34 on their own, but the drug does have potential for partnering. In addition, the company remains eligible for a 30M milestone payment from Bayer related to Maxy-VII, although I am unsure of the trigger.

The bottom line is that I have nothing to indicate a short-term rise in Maxygen. The share price simply drifted below the 5.5 threshold I recently established to generate a CAPS pick. A Maxy-G34 partnership or Maxy-VII milestone payment would drive the share price north of 6.5, and the substantial cash position buffers the stock against broad market declines.

value

CASH of $4.73, past sucess of developing and spinning off Codexis(still have 500000 shares=$51 Mill! and CDCX has great prospects! Pure play in BioPharm development with NO downside.

Developments over last 18 months support initial statement on the stock and increase price target to 10.00

cheap biotech

This met a high level screen to indicate a buy and strong outperform against its peers (other tickers in its industry). My 1st version of this spreadsheet devles deep into the company's balnace sheet and recent income statements, combined with other relevant price data for the company including insider/institutional holdings, short interest, debt levels, etc.
Testing capabilities of this 1st version of my automated, valuation spreadhseet matched with my personal criteria and see how it holds up.

MAXY is great value under $6. $220 market value with $180 million of cash, a joint venture with Astellas, MAXY G34, a potential $30 million milestone from Bayer plus 22% ownership in Codexis. In addition they have their Molecular Breeding technology and a grant funded vaccine program.. Russell really delivered value to shareholders before he left. I shall miss his fantastic australian accent.

Maxygen Inc. (bio technology) has been an underperforming stock since it collapsed during the "tech" collapse. There has always been something in the "pipeline" that gives a false sense of hope that they are almost there and will turn themselves around, but. . .year after year it's the same thing. If your into gambling, this is your stock. If your into investing, stay away.

By the way, their CEO just resigned on July 14, 2009 when they released their qrtly 8-K.

outperform. company is HIGH in cash. not terribly overvalued, and is likely to kill S&P 500 where it is at today's levels.
additionally these companies are not within the financials nor energy sectors.

Their pipeline is attracting more partners

overbought STO

Maxygen Inc. or MAXY is a biotechnology company committed to the discovery and development of improved next-generation protein pharmaceuticals for the treatment of disease and serious medical conditions. One of those conditions is the reason that Bayer Inc. is willing to give Maxygen $90Million up-front and another $30Million for the new drug Recombinate which will be used in the treatment of hemophilia. Bayer is currently in control of two other drugs to treat hemophilia The three drugs combined will give Bayer the chance to start drug trials as early as September. Hold on to your seatbelts gang! This stock will rise so fast you'll get nose bleeds..

A biotechnology company committed to the discovery and development of improved next-generation protein pharmaceuticals for the treatment of disease and serious medical conditions.

yea going down

Momentum play with pull back on a bad dow day

Maxygen Inc a biotechnology company engages in the discovery, development, and commercialization of protein pharmaceuticals for treatment of disease and serious medical conditions. Its products include Maxy Alpha, Maxy G34, Maxy Factor VII, Maxy Gamma. The company has strategic alliance with Roche, InterMune and Nectar Therapeutics. For 2006, the total revenues increased by 92% to $25 million from $13 million in 2005.

There are more than 1500 players in the biotech industry and this industry is experiencing a sea change with the evolution of partnerships and collaborations among leading companies for development of innovative products.

Roche has initiated a Phase Ia clinical trial in New Zealand to evaluate the safety, tolerability, pharmacokinetic and pharmacodynamic profile of Maxy-alpha, a next-generation interferon alpha for the treatment of hepatitis C virus infection. Maxygen expects to receive a $2 million dollar milestone payment for the commencement of the Phase Ia trial. Worldwide sales of drugs for the treatment of hepatitis C virus infections were approximately $2.75 billion in 2005. Moreover, Sales of drugs to treat hepatitis C virus infections are expected to grow due to improved market penetration through improvements in therapies, increased awareness and improved diagnosis rates.

Also the company expects to receive $17.8 million as a result of acquisition of Avidia Inc by Amgen Inc. Avidia was spun out of Maxygen in 2003. Further the company expects to begin the first phase II clinical trial of Maxy G34 in first half of 2007. With new initiatives planned, the shares of Maxygen offer a good opportunity for investors.

Maxygen is one of the few remaining biotechs from the