Healthcare >> Sector Roundtables >> July 8, 2002

Roundtable Forum: Biotechnology

JOSEPH P. DOUGHERTY, a Vice President at Lehman Brothers, joined the firm in April 2000 from UBS Warburg, where he was Senior Biotechnology Analyst. He was at UBSW and its predecessor firms for three years. Prior to coming to the Street, he was a scientist at Gilead Sciences in antiviral and cardiovascular medicinal chemistry and drug development, and at Genetics Institute in DNA-based diagnostics and bioorganic chemistry. He has an AB in Chemistry from Harvard, a PhD in Bioorganic Chemistry from Columbia, and is the author of numerous scientific papers and several patents. Profile
JONATHAN ASCHOFF, PhD, joined the healthcare team of Friedman, Billings, Ramsey & Co., Inc. (FBR) as a Senior Research Analyst in March 2001. Prior to joining the firm, Dr. Aschoff was a Senior Research Analyst at Dain Rauscher Wessels covering genomics and had worked as a more generalized biotech analyst at Sturza's Institutional Research, where he covered antimicrobial and oncology therapeutics, therapeutic antibodies, gene therapy and genomics. Dr. Aschoff received his PhD in Microbiology and Molecular Biology and his BS in Biology from Tufts University. Profile
FRANKLIN M. BERGER is a Managing Director in the US Equity Research Department of J. P. Morgan H & Q, having joined the firm in 1998. He is a Senior Biotechnology Analyst and part of the Global Health Care Research team. He received his MBA from Harvard University and both his MA and BA degrees from Johns Hopkins University. In 2000, he became a Founding Fellow of the Biotechnology Study Center at New York University School of Medicine. Profile
FARIBA GHODSIAN is Managing Director and Director of Healthcare Research at Roth Capital Partners, where she oversees the biotechnology and medical device equity research team. She has also worked as senior biotech analyst with other investment banking firms and held positions of research scientist, director of business development, acting CFO and board member for biotech and pharmaceutical companies and investment funds. She has an MBA from UCLA (Beta Gamma Sigma), postdoctoral fellowship from Harvard Medical School, PhD in Biomedical Engineering from Oxford University, MS from MIT and BS from Technion, Israel Institute of Technology, both in Chemical Engineering. Profile
Craig D. West is an Associate Vice President and Senior Biotech Analyst at A.G. Edwards & Sons. He specializes in biotechnology, genomics and gene therapy firms involved in the human medical area. He previously worked at Genentech, Inc., and California Public Employees Retirement System. He holds an MS in Biochemistry and an MBA from the University of California, Davis, and a BS in Molecular and Cell Biology, magna cum laude, from the University of Connecticut. Profile
ALEXANDER A. HITTLE, CFA, is a Senior Research Analyst at A.G. Edwards where he covers biotechnology and genomics firms. He previously worked as a lobbyist for a non-profit environmental organization in Washington, DC. He has an MA from the Johns Hopkins School of Advanced International Studies (SAIS) and a BA from Brown University. He currently serves as the Chair of the Board of Bloom, a non-profit organization dedicated to bringing state-of-the-art IT to institutions involved in plant conservation. Profile
TWST: Craig, let's start with an industry update. How have the biotech

stocks performed year to date 2002?

Mr. West: They've performed terribly. We've subdivided the sector into

gene therapy,