Jul. 22 at 7:29 PM
$SNDX, while having a good day, is off ~60% since 7/16/24. At
$10.20/sh we get
$870MM in market cap
Peers w/Revuforj's projected revenue & gross margin profile (if label expansion is approved in 10/25) like CTIC, AGIO oncology, SRRA, KYTH, DCPH & KDMN were acquired for
$1.7 to
$2.2B
SNDX projects
$90MM in Niktimvo product sales in its 1st full launch year.
$KDMN forecast Rezurock to generate
$63MM in its 1st full year when it was acquired for
$1.9B. If new drugs are worth some NPV of their projected sales, and if Niktimvo is projected to generate 50% more sales dollars in its launch year, does that not suggest Niktimvo may be worth more? SNDX splits Niktimvo profits/losses 50/50 w/
$INCY & sold
$RPRX a 13.8% Niktimvo royalty. Our point is SNDX owns roughly 1/3 of Niktimvo
RPRX estimates its 13.8% royalty should be fully repaid @ 2.35X its
$350MM investment or
$822.5MM by FY38 (meaning RPRX projects
$5.96B in cumulative Niktimvo US product sales by FY38)
This is not investment advice.
$XBI
