I am not familiar with KITE and their entire arsenal of drugs, their cash, etc...So I cannot make a sound judgement, however I can chime in on IPIX:
I believe that IPIX is still an unknown entity in the overall scheme of BP. I believe yes they(BP) have been watching and the ones with CDA's are getting to know more and more...hell those BP's may be bringing in other departments or even discussing with other more experienced BP's in certain areas to discuss things. But overall, it's the way that IPIX has moved forward on MANY fronts that makes this more difficult for single buyouts because the BIG 3 (K,P,B) touch on so many different indications and may involve heavy research on BP's end and IMO IPIX is not at a point for maximum value.
For K - we have come a long way, but we are not there yet. I believe that this phase 2-OC trial was put together by a specific BP and the data and MoA if proven will lead to a deal instantly. I think the Oral portion of K is a huge factor as well due to the short half-life and could spark an instant buyer once they have more data. Kevetrin could be the most lucrative drug in the arsenal if it truly activates or repairs the P53 gene which so far looks good. However - this trial is needed 100% IMO
Brilacidin - This is tricky IMO - You are talking about a company that made a stalking horse bid and took it for millions and now SO FAR the potential looks to be HUMIRA style in Rev's - IBD, Antibiotic, Acne (other derma indications), OM etc... If it all proves out there is no doubt it could be a 10-15 billion a year drug - But BP is seeing that a company took a drug for several million and it may look bad to give hundreds of millions if not billions at this point. If OM proves to be as good as the interim, I suspect a deal is done. There is NO drugs for preventing OM and especially as easy as 'swish and spit' - we just need to hang on and wait for data later this year.
Prurisol - We are on the cusp of knowing what we own. I already believe we have a blockbuster, but this powered phase 2b trial will be an apples to apples comparison and we are now only months away - maybe first of the year away from topline results that could prove it could be a 2-5 billion drug if it approaches the biologics. IMO
Not knowing MGMT's ultimate goal makes it tough to answer your question about why didn't GILEAD buy IPIX. I personally would like to see a partnership and license for each indication and let this slow roll for years and decades as I gain massive wealth. However, maybe Leo and Dr. M want as many irons in the fire as possible and go as far as possible with the smallest dilution as possible and then just sell out as a major BUYOUT and ride in to the sunset. IDK. For that - I don't think we are at the point for greatest return or value. For that I could see:
B-Absssi sitting and waiting for phase 3 (SPA complete)
Prurisol complete phase 2b in a couple months and sit ready for phase 3
B-OM - receive topline data and apply for BREAKTHROUGH and be ready for a phase 3 with ROLLING REVIEW
B-UP - ? Unsure - maybe work on formulation but that may be too costly?
K - we need data from this OC phase 2 trial and recognize the full potential of it's MoA.
At that point maybe a full buyout could happen?
Again - over an over we do see huge $ thrown at biotechs as BP is scrambling for drugs. As long as our results keep coming in as is...we will be just fine! I would just love to talk to Leo and Dr. M about their goals and dreams. off the record.
Have a great afternoon.
AI
