Jul. 28 at 11:45 PM
$SANA To my friend Kevin. News flash. Nobody is having tag days for Esau. I have been around the block a few times on pharma deals. TOP CASH is reserved for those companies with revenue producing drugs. Witness the
$9.6B BPMC deal that just closed last week.
$SANA has yet to prove that they can scale up that platform. That means that there is risk and any acquiring company will evaluate that risk in terms of providing cash. They simply aren't near the finish line and that distance to the finish line discounts the value of the company
As I've said--now for the third time--I am rooting for
$SANA like Spike Lee roots for the Knicks. I really want them to win. That said--with their limited cash and their distance to solving the scalability challenge--I hope that they will soon be a subsidiary of VRTX where it would be far more likely that their asset will be able to evolve into an FDA approved platform.