Biotech Values

[Bickema]

CLVS: I offered it as a deal candidate on Oct 16, 2019 based on very low valuation - BMY/CELG deal wasn’t closed at that time now it has - I think the most natural fit would be BMY. Whether BMY would do this deal or not now or ever is a different matter.

A BMY CLVS deal would be both commercial and science, they'd get 2 shots here 1) drive rubraca sales and expand indications and 2) research and develop lucitinab and FAP-2286.

Not a bad hedge if you are BMY