Healthcare >> Sector Roundtables >> July 5, 2004


JIM REDDOCH is a Healthcare Senior Analyst at Friedman, Billings, Ramsey Group, Inc., and follows companies that are developing new, cutting-edge therapies for diseases such as cancer, rheumatoid arthritis, psoriasis, AIDS, and hepatitis C. Dr. Reddoch joined FBR in May 2003, after five years of covering the biotech industry, most recently at Banc of America Securities. As a Senior Analyst, he was known for his new methodologies for valuing the early-stage products of young companies, his concerns about the valuations of some genomics companies, as well as his ability to identify and rank upcoming, stock-moving events in the biotech space. Prior to venturing into finance, Dr. Reddoch was a postdoctoral fellow at Yale University School of Medicine in the department of Therapeutic Radiology, where his project focused on the relationship between genetic mutations and cancer. During his time at Yale, Dr. Reddoch also served as a consultant for the school's technology transfer arm. He received his PhD in biochemistry and molecular genetics from the University of Alabama Medical School, where he founded the Industry Roundtable, now in its eighth year ' which features speakers in finance, law, and health care. Dr. Reddoch's undergraduate degree, from Furman University, is in Political Science. Profile
EDWARD H. NASH joined Legg Mason's Equity Research Department as a Principal in March 2003, focusing on the biotechnology/life sciences sector. Most recently, Mr. Nash was a senior analyst in equity research covering the biotechnology sector at Rodman & Renshaw, Inc. He has also been affiliated with Ladenburg Thalmann & Co., Commerce Capital Markets, Inc. as well as Lazard Freres, LLC in their equity research departments, also focusing on biotechnology. Mr. Nash began his Wall Street career as a healthcare analyst at SG Cowen Asset Management, Inc. Early in his career, Mr. Nash was a basic science researcher with The Center for Macromolecular Crystallography in Birmingham, AL, working in rational drug design. Concurrently, Mr. Nash was working in basic research in the field of evolutionary biochemistry. Mr. Nash graduated from Spring Hill College, Mobile, AL, with a BS in biology and chemistry. He also has an MPH in epidemiology from The University of Alabama at Birmingham. Mr. Nash has both an MBA in Finance and an MS in International Business from The University of Miami. Profile
CHRISTOPHER J. RAYMOND, Vice President, is Robert W. Baird's Senior Analyst covering Biotechnology. Prior to joining Baird in 2002, he was a biotech analyst at Prudential and Prudential Vector Healthcare Group. Previously, he spent 10 years with Baxter Healthcare and G.D. Searle, where he focused on marketing oncology and cellular therapy products. In 2004, Mr. Raymond was named among the "Best on the Street" in The Wall Street Journal's annual analyst survey, ranking among the top three analysts in the Biotechnology category. He received a BA from Michigan State University and an MBA from the University of Chicago. Profile
TWST: Ed, what has gone on with the biotech stocks from a market

perspective so far this year?

Mr. Nash: We were looking to see a nice boost in the biotech sector

post-ASCO, especially given