Sep. 14 at 1:10 PM
The attachment compiles certain valuation related data points on 9 mature commercial-stage bios (3 in oncology & 6 in non-oncology). For the more mature bios in this peer group, we consider enterprise value related multiples the best predictor of value potential (since all 9 are long past traditional M&A exit timelines).
$OGN appears to be the most leveraged. Should they be able to service the debt (not considered in EPS) then...
We understand
$PTCT first meaningful FDA approval came in 2017 so they are the youngest in this peer group. They are the only bio of the 9 still not profitable.
$BMRN is hovering near 52-week lows yet still appears to trade at revenue multiples consistent with others in this peer group.
$ACAD &
$ALKS have almost identical multiples. ACAD just got a major IP extension.
This is not investment advice as we do not follow the non-oncology bios in this peer group in any detail. We'd otherwise appreciate genuine feedback. Are we missing a data point to consider?