Biotech Values

[linhdtu]

My hat off to Seth Klarman and Baupost Grp.

The cognoscenti here are not wrong about Idix imo. They are just looking at the scientific side and it is/was bad . Idix's pipeline is in full freeze with the FDA. But Idix was unpartnered/unwanted perhaps because it was so unappealing.

Enta's OTOH is pretty much all partnered last I checked the pipeline. So for a BO to happen it would be pretty much by the major partner because of the untangling (aka valuation of the pipeline makes quite difficult to place an agreeable price on the total package) and it is a strong deterrent for a 3rd party like Merk to come in.

Be as it may, it is water unter the bridge. What is interesting going forward is that Baupost recently acquired a big chunk of Kerx another unloved little pharma.

I like Seth's acumen. May be I should hop on his coattail.