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OncoGenex Pharmaceuticals, Inc. Message Board

  • play_tow play_tow May 27, 2010 11:16 AM Flag

    OGXI To Trade Down to Cash-Value...Here's Why

    Currently, OGXI trades at 2x cash value.

    They generate no revenue, they have no revenue generating prospects for a long time.

    Their milestone potentials with TEVA are wholly linked to success of their compound OGX-011, which
    is a second line chemo therapy, unproven, in Phase II trials.

    Their next line product is OGX-427,just entered in Phase I trials.

    By comparison youll find more than a few biotechs now selling near cash valuation, even though they generate revenue, and have products.

    CYPB, and their recent drug Savella......$4/share, with $3.75/sh in cash.
    ISIS, generating $100M/yr revenue......$8/share and near $6/share cash.

    ISIS is perhaps the best comparable, since both are seeking to develop similar novel theraputic approaches to treating cancer.

    Bottom line is that if OGXI were to trade at a similar price to cash ratio as ISIS, the shares would be
    below $10/share.

    OGXI, generating zero revenue..... currently $15/share, with $7/sh in cash

    Likely to fall below $10/share, imo

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