Biotech Values

[DewDiligence]

ADH – I just sold 80% of my holding. GSK’s interest in ADH-1 was the main reason I was invested.

I would have sold 100% of my holding but the valuation is so cheap that the vig from eniluracil justifies keeping a few shares for the time being.

I think ADH would have been a 5-bagger with ease if GSK had opted in for ADH-1, but this was always a high-risk proposition.