Oct. 3 at 8:35 PM
The attachment shows the change in share price since 8/29/2025 for all 20 commercial-stage bios with market caps north of
$275MM. The table also shows current FY2028 revenue multiples. Note a majority of bios with market caps north of
$1B trade for less than 3.0X FY2028 analyst estimates where the average like bio in non-oncology trades for 3.1X FY2028 consensus.
The XBI is up 15% since 8/29/2025, generally beating gains in all but 2 of the 20 in the group.
$LEGN $NVCR &
$SNDX trade at the lowest multiples of FY2028 revenues in the peer group with market caps north of
$1B. NVCR is one of the 2 to beat the XBI since the end of August 2025.
$FENC has been for sale for years & trades at the highest FY28 of the group with market caps less than
$1B.
Investors may recall
$RIGL traded for over
$40/share after a massive Q2 25 beat & raise.
We're merely sharing an observation. This is not investment advice.
