Apr. 3 at 1:40 AM
Our records indicate
$PTGX trades at the highest multiple of 5 & 10-year analyst consensus of all commercial-stage bios with market caps over
$1B (oncology & non). This is not investment advice. We have no idea if this is a meaningful data point to understand PTGX's value proposition and/or investment thesis.
$LGND trades at the 2nd highest (but LGND's gross margin was 95% in FY25).
It is worth noting
$ZYME is a close third. ZYME's revenues (at least near-term) are sourced via royalties (100% gross margin) just like PTGX
For perspective, the attachment compares PTGX's multiples to the 5 we posted last night (appearing on the top). These are traditional comm'l-stage bios responsible for manufacturing & selling their therapies. These are not peers (outside of being biopharmas).
$XBI $IBB