Jan. 12 at 1:36 PM
$MGTX To show how fast things can change in Biotech, and to validate how undervalued MeiraGTx truly is, take a look at Abivax. They have 1 late stage Phase 3 asset for UC and their market cap was ~
$400M 9 months ago (share price ~
$5). With projected sales of
$500-
$1.5B within 5 years, and fantastic Phase 3 efficacy, their market cap today is
$8.9B and the Wall Street Journal is reporting today that Eli Lilly is preparing a bid to acquire them for
$17.5B.
So, from
$400M to
$17.5B in ~9 months. Absolutely unbelievable.