Sep. 21 at 10:37 PM
List of all commercial-stage oncology & non-oncology (over
$100MM MC) M&A for those with 1st FDA approvals going back to 1/1/2013.
88% of commercial-stage oncology sold at gains were sold within 2 years of FDA approval. It is 91% in non-oncology over 33 months.
Because new drugs are worth the net present value of their future sales thru patent expiration, new drugs become less valuable over time as patent life is generally always nearing.
Because approval rates are dismal, we can count on 2 hands commercial-stage bios that have scored a second approval of a drug with a meaningful commercial opportunity or a label extension. Of course there are exceptions like
$ASND &
$INSM but the odds are long.
The evidence is overwhelming shareholders are best served via M&A exit as soon as possible after FDA approval.
$IOVA &
$GERN are textbook examples of new comm'l-stage bios with credible label extension potential.
$INVA ?
Pushback/feedback?
This is not investment advice.
