Biotech Values

[dewophile]

It seems that way but then they had some stellar data from a preclinical asset which is now close to launch. I guess they could sell this asset too and get out of oncology altogether, but they hung onto their drugs in development bc NVS probably wasn't valuing the programs much at the time. So they are getting back into oncology from a position of some strength - specifically on the back of the data for their BCMA drug. Then they went and hired Hal Barron, formerly of Genentech, to be CSO. So I think the writing was on the wall.
Whether they should sell their pipeline (which now has real value) or dive back into a competitive oncology landscape can certainly be debated, but they did not get back into oncology willy nilly that's for sure.