Too low. I think Rintega approval gets you $115 all by itself. If we get good data on Varli, 1401 and 301 at about the same time (March 2016), I honestly can't guess the upper limit. Why? Onyx was a one-trick pony - one drug for one oncology indication - when Amgen bought it for $10B in Jul 2013. $10B is about $115/sh for CLDX. Puma has one drug for one breast cancer indication, approval probable in Q1 2016, and it's on sale for $7B. CLDX kinda - kind of - resembles PCYC 24 months ago, big, promising pipeline, and PCYC just got bought for $21B. GLTA
Not sure how likely that is, but I sometimes wonder, given how strong the PH2 data was, if there is a chance that the Glemba METRIC trial for TNBC might be stopped early, for SUCCESS, a year or so from now. Right about the time Rintega goes on sale and Varli is starting to prove itself. I can wait a year for 5x - 8x bags! Good luck longs
That's what AMGN bought ONXX for, $10 Billion, and Onyx was a one-trick pony. CLDX is a 5-10 trick pony. Hey shorts: please take a new position in the $25 range, so when CLDX announces trial data from CDX-1401 for melanoma or CDX-1127 for Hematologic cancers we can burn you to the ground AGAIN.