Biotech Values

[mcbio]

Re: AGTC

BIIB dumps AGTC collaboration on five gene-therapy programs:

https://globenewswire.com/news-release/2018/12/12/1666252/0/en/AGTC-Announces-Topline-Interim-Six-Month-Data-from-Phase-1-2-X-Linked-Retinoschisis-Clinical-Study-Termination-of-Biogen-Collaboration.html

The collaboration was inked in 2015 (#msg-115114540); AGTC received $124M up-front (including $30M from an equity sale), but earned only $5M of milestone payments since then.

AGTC CC at 5pm ET.

I hadn't looked at AGTC for a long time until just now. Stock is languishing below its EV and they have several data read-outs later this year on both the XLRP and achromatopsia programs. I know the company and stock have been a disaster to date but just wondering if any value here. NITE has at least had some PoC in XLRP and wondering if this could bode well for AGTC. I listened to their latest CC and they said what distinguishes their XLRP program from the XLRS that failed is that XLRP apparently has a good pre-clinical model where they have shown success vs. XLRS that had no good model. Also, they claim they are dosing sub-retinal with XLRP whereas XLRS indication was intravitreal (assuming that means chance for better delivery and, ultimately, efficacy).

Given the foregoing, you think they have a decent chance to show efficacy in the XLRP program?