Biotech Values

[iwfal]

BMY has sunk costs in the program now; just because they don’t terminate the Lambda program does not imply that they would do the same deal again on the same terms.

No, dewo's point was that not much has changed since the BMY/ZGEN deal. No startling new data has happened. As a measure of that, if I remember correctly, you were just as positive that interferon was dead somewhat prior to the BMY deal. (e.g. Multiple statements along the lines of 'everyone knows all oral is the only future' and then the BMY deal happened.)