Biotech Values

[mcbio]

RARX -19% on phase-2 data in PNH

You see any warts in this PR to account for the sell-off or is this just a case of sell-off on the news given no major positive announcement here (I'm guessing the latter)? This is more similar to what ALXN has been doing with Soliris in going after C5 with RARX belief that they have certain advantages in their approach.

Different approach than what ACHN is doing by going after Factor D which is more upstream (bigger safety questions?) and also the private Apellis that is going after C3 (seems like could be somewhat similar to targeting Factor D given where it sits in the complement pathway).

I would still like to have exposure to one of these complement pathway plays as you have to think there is room for a better (or at least much cheaper) Soliris. Thoughts?