Biotech Values

[mcbio]

AMBI I has gotten remarkably cheap. Are you still following it?

Yes, AMBI very much on my watch list for potential future consideration. Clearly, the lead value-driver is quizartinib. Although it's in a Phase 3 and you know I hate to bet on Phase 3 binary events, which I usually view as a crapshoot regardless of prior data, I don't think the data is due until at least 2H15. So, there is potential to get in and be able to hold for awhile and hope for a bounce before the pivotal data. Also, they have a pipeline beyond quizartinib, including a drug targeting CSF1R, which I would like to see more data on. Finally, they have a nice cash position to go along with what seems like a cheap valuation.