Sunday, November 06, 2016 11:31:51 PM
Take a look at MIRN. Founded same year as MGEN (2007), similar in size (35 less employees than MGEN), same biotech sector and similar progression (phase 1 studies).
MIRN now has a 25M market cap, however it has been in decline most of the year, and halted their main study a couple months ago. Last Dec, MIRN hit 250M market cap.
MGEN has a much larger partnership with Servier than anything MIRN has had, and Mirck is one of a few names interested in MGEM.
If the 750k share count of SGNL is 4%, then MGEN has aprox 19M shares. So, if the market puts MGEN at a 250M valuation, pps would be 13 bucks and change. Question is, where will the market put MGEN from a valuation perspective.
Clinical biotechs valuations are based on data, partnerships and collaborations, and the flavour of the times. MGEN is in a hot market, so it is exciting to think about, but who knows.
Phase 1 data is being released at ASH on Dec 3, looks promising.
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