Straight off the YM site - been waiting for this.
Data looks very good, with duration of response excellent, and continuing - see the presentation.
Very little comment about potential partnership - just a reference to 387 being 'unpartnered', but that shouldn't surprise us should it.
Looking at future potential applications for 387 (slide 30), and the ongoing pre-clinical research on other compounds, getting a good, accurate valuation for the company must be pretty hard, but I would suggest price per share would be/should be a LOT higher than where it sits today.
Final extract/highlight from me:
'CYT387 anemia benefit appears unique among the current class of JAK1 and JAK2 inhibitors....'
Best to all longs,
I have 2.50 options expiring again in July. Can you longer longs make sure that pps is at least $3-5 by then? You already disappointed me bigtime by letting my April 2.5 options expire worthless. Please don't let me down again. I still have some faith in you all. Sigh!
ASCO abstracts to be release later today. I'm hoping to feel some nimo power.
I don't think they will take it all the way to market. Partners are good. They help with phase 3 trial design, they bring upfront cash to the table and they help to diversify risk because YM can focus cash and human resources on developing the pipeline. Going it alone can payoff big but it can also backfire. I think this comes down to risk/reward. My YE price target is $5ish unless we get bought but we're at $2 and you don't often see 150% buyout premiums. I think we're best off with a nice licensing deal. Most likely in my book:
Amgen, J&J, BMS, Pfizer (especially with their RA JAK looking good) and Celgene. Celgene went all the way of course but they also had revenues. It's a tough call here. I'm sure partners are circling. The data looks too good and JAKs are attractive right now. Thank Galapagos for that awesome deal they did. It's a great comp. That type of deal brings YM to the $4-5 level.
Because the only metric that mattered in the original post was correct (10/1) I imagine people either didn't notice the decimal error or understood it to be a simple typo. Didn't change the ultimate conclusion a whit. Love nit-pickers.
i think the presentation is good. i'd like to know what the status of the patent is for cyt387. it says "pending" - do they expect to get it? any problems? that will be important in how others value the asset.
Presentation is exceptionally well done. This should make a potential partner easier to find and, if I am reading this correctly, it suggests that our drug could go far beyond initial indications. That being said, it does raise (in our favor) the valuation issue...we should be worth a lot more than originally thought.
once again though, there's huge gaps inbetween catalysts. The main thing that can really help drive us is that the CEO continues presentations, and that we get analyst coverage. I don't think we'll see an update for a while after this one. Nonetheless, it's great data.