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Biotech Valuations III

Which cancer-fighting biotech will be the next Race Oncology?
October 20, 2020 | Derek Rose

It’s an exciting time in the cancer-fighting biotech space – and an exciting time to be investing in the sector.

A number of ASX-listed oncology companies are performing strongly, with Race Oncology (ASX:RAC) shares up more than 16-fold in the past 16 months, going from 6c to 96c on positive clinical trials of its chemotherapy drug Bisantrene.

In September, Gilead Sciences (NASDAQ:GILD) agreed to pay an eye-popping $US21 billion for Immunomedics (NASDAQ:IMMU), while Merck & Co (NYSE:MRK) committed $US4.2 billion to Seattle Genetics (NASDAQ:SGEN).

“The deals in the six months have been insane,” Campbell told Stockhead. “Where we are compared to a year ago, the number of deals is going through the roof.”
https://stockhead.com.au/health/which-cancer-fighting-biotech-will-be-the-next-race-oncology/