Jul. 2 at 12:17 PM
For the first time in years
$URGN 's market cap is the same as
$SNDX
We're beyond disappointed INCY never acquired SNDX. All the same, the
$XBI surge continues manifesting in such a URGN v SNDX phenomenon.
The attachment graphs URGN v SNDX third-party 10-year analyst consensus revenue estimates. Data points are noted at the bottom right (SNDX does not include the recent convertible debt offering). URGN has royalty & debt obligations so its EV is meaningfully higher.
We strongly suspect a URGN acquisition is imminent. If commercial-stage oncology focused bios are worth some multiple and/or NPV of projected sales & gross margin, we are curious how other investors read the data set.
Is URGN a better buy than SNDX at the moment?
Let's ignore the fact that SNDX's CEO is granted 500,000+ shares every year. SNDX traded for
$29 per share in Jan 2023 when the XBIO traded in the
$80 s
$IBB $NBI