Word: prospectuses
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Dates: during 1980-1980
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...Genentech itself states in its prospectus, the stock involves a high degree of risk. It is also likely to have a very high price-to-earnings ratio. The offering price is expected to be $25 to $30 per share, even though Genentech earned a meager 1? per share during the first half of 1980 for its private backers. The reason for all the excitement among analysts is that Genentech is one of four leading companies in the world doing recombinant-DNA research, a phenomenon that has had the scientific and investment communities elated for several years. Genentech is the first...
...times change. When he was starting up The New Yorker in 1925, Editor Harold Ross declared in his prospectus that his magazine would be much too sophisticated for "the old lady in Dubuque." If that instantly famous putdown ever had any accuracy, it surely does not now. Dubuque (pop. 65,000) has a lady mayor. And at 44, she is neither old nor unworldly-even though her honor, Carolyn Farrell, is a nun of the Sisters of Charity. Dean of continuing education at Dubuque's Clarke College, Farrell (she prefers not to be called "sister...