Biotech Values

[DewDiligence]

IDIX – I was hoping for a better upfront somewhere between 30-40M…

The $34M up-front they got is in the middle of your range.

…so the company would have more cash cushion till next year.

IDIX now has about $75M of cash with no debt. Moreover, there’s a decent chance of bringing in more cash in 2009 from HCV deals.

In short, IDIX’s balance sheet is pretty good; in contrast to many small biotech companies, movements in IDIX’s share price are apt to reflect the company’s clinical progress and buyout vig rather than its financial condition.