Biotech Values

[rkrw]

ACHN HAS TO PARTNER. No small biotech can self develop a protease other than Vertex (billions in NOL's). If not now, after phase 1.

Achn needs to partner or raise cash now since they're <$10M cash by 12/31 and <$5M at 3/31. When the funding options are partner or sell equity, in a decent funding environment bet on equity and you'll be right 90% of the time. There are exceptions such as PLX recently or AUXL.