Biotech Values

[biomaven0]

Good Kyprolis result for AMGN - impacts LGND too:

Amgen (AMGN) today announced positive results from a planned overall survival (OS) interim analysis of the Phase 3 head-to-head ENDEAVOR trial. The study met the key secondary endpoint of OS, demonstrating that patients with relapsed or refractory multiple myeloma treated with KYPROLIS® (carfilzomib) and dexamethasone (Kd) lived 7.6 months longer than those treated with Velcade® (bortezomib) and dexamethasone (Vd) (median OS 47.6 months for Kd versus 40.0 for Vd, HR = 0.79, 95 percent CI, 0.65 – 0.96).

http://finance.yahoo.com/news/phase-3-head-head-trial-140000117.html

The 3% royalty LGND gets might well hit around $2/share in a year or two. And it's worth noting that any generic will very likely also need to license the captisol ingredient, so should be no patent cliff.

Peter