Biotech Values

[mcbio]

SMMT -

OK you were right but the upfront still puts it in the size that I wouldn't consider it a significant deal

Perhaps not so significant for SRPT but VERY significant for SMMT being they were close to bankruptcy. I'm happy to see the nice up-front and fact they also get low to high-teen royalties in Europe, on top of keeping full rights in the U.S. where it was noted in the CC that there may be 17K DMD patients here. All told, I don't think I've ever been involved with a stock where there has been this obvious of a telegraphed event to come. Harder part for me now is deciding what to do as I still think the stock is really cheap if they demonstrate PoC in clinic but, obviously, there is still plenty of risk that the lead drug could fail in clinic too.