metalcook
Oct 14, 6:10 PM
$VIR The Vir deal is ~2x the total potential value of
$JANX -
$BMY , with ~2–3x the near-term cash/equity, covers three candidates instead of one, and includes an equity stake. Both are similar preclinical/masked-TCE platform deals for solid tumors in which the biotech does early work and the big pharma takes over later. Vir’s is a stronger platform validation on headline economics. Similar early-stage oncology/TCE or masking-tech deals often fall in the
$500M–
$1B+ range for 1–few programs; Vir’s sits at the higher end.
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