Apr. 24 at 8:49 PM
Tough week for bio & commercial-stage oncology focused bios. Investing is a marathon & not a sprint. Of the 26 we track w/MC over
$300MM, only 6 traded higher. The XBI was off 4%
$ANAB surged 15% beginning at 2:30 PM after disclosing a big legal win after a court in Delaware dismissed the Tesaro suit. Tesaro was acquired by GSK years ago.
$LEGN traded as high at
$26.50 on Monday which more or less held thru Wednesday. It appears Carvytki sales won't me materially impacted in the near-term. Just remember LEGN spend just under
$1B on R&D every year. The odds of scoring a second cancer therapy are 1 in 20.
$SNDX &
$IOVA &
$VSTM had the worst week in spite of trading at what appear to be reasonable multiples, at least versus their peers, but WTF do we know. VSTM's combo sales are tracking to CTIC's Vonjo. CTIC had no other pipeline of substance & was acquired for an EV of
$1.7B
This is not investment advice. We're just sharing our analysis.
