Biotech Values

[ghmm]

KDMN:

I finally got a chance to hear the call and (more importantly) look at the slides. To the companies credit, they did give more detail than the initial PR.

Slides: http://investors.kadmon.com/~/media/Files/K/Kadmon-IR/kd025-207-data-presentation-2-12-18.pdf
Webcast: https://edge.media-server.com/m6/p/ntwshyjk

KDMN is a company I want to like because of the low valuation and also an ownership interest in a Gene Therapy company and I like the IPF area too... but I keep finding it difficult perhaps it's the questionable management history?

The biggest issue I found (but there were numerous things that bothered me to lesser degrees) was the trial design allowing crossover to KD025 at any time so they actually ended up with 30 treated with KD025 but only 20 of them were evaluable (7 dropped because of AE, 1 not evaluable, 1 misdiagnosed and 1 lost to follow up)! They said they plan a larger (150? placebo-controlled) I wouldn't take my chances given this data.