Jul. 20 at 7:26 PM
The attachment shows commercial-stage oncology focused bio shares trade @ meaningfully lower FY28 revenue multiples than non-oncology. Share prices are also lower YTD (as a peer group). We're merely sharing an observation. We're not suggesting oncology will catch up or otherwise fare batter in the future.
The attachment shows all 37 comm'l-stage oncology focused bios (including 2 with PDUFAs) versus all 37 like non-oncology with market caps over
$1.5B and all 37 with market caps of
$160MM to
$1.5B
In the Tesaro fair value opinion (when acquired by GSK in 1/2019), Centerview Partners noted that oncology focused bios get roughly 8% better Year 3 multiples in M&A. Yes that was 6 years ago.
We'd genuinely like to know if anyone can offer an explanation as to why oncology trades at lower FY2028 multiples than their non-oncology focused peers?
$JAZZ $NVCR $SNDX $IOVA $ADCT