Monday, July 27, 1998
Whoever said "God works in mysterious ways" must have been talking about swings in company stock valuations based on public perception of basic science.
On the one hand, there's PPL Therapeutics plc (LSE:PTH), the biotech company most closely associated with the science of cloning. While cloning has commercial potential (albeit some distance from being realized) and has captured the public eye, PTH's technology valuation is essentially zero, with a market cap of £39 million (US$64 million) and cash of £21.3 million, excluding its farm assets. (We haven't done a calculation of the supermarket value of the lamb on the hoof.)