Apr. 20 at 1:04 PM
Comm'l-stage non-oncology focused bio valuation related data points for those with 1st approvals FY20 - FY24 & ~
$500MM+ in FY26 analyst consensus. Sorted by highest market cap to lowest.
$BBIO multiples use enterprise value. We should have noted so on the attachment but we did not.
We include
$ACAD because they will likely do
$1B this year & yet they trade below this peer group's average & median multiples. It is highly likely ACAD shareholder value would have been maximized via M&A exit 6 years ago, but what do we know
Otherwise,
$ARDX continues to trade at the lowest multiple of analyst projections in this, or most, peer groups.
A
$BCRX M&A exit rumor has been out for weeks yet...
Don't forget BCRX's royalty obligation.
$KNSA is off 10% since hitting
$50/share on 4/6/26 but is still up 122% over the last year.
As always, this is not investment advice.
