Biotech Values

[biomaven0]

14% discount to the branded product

Interesting choice. I had also been assuming something in the 20% range.

A branded generic makes no sense at these prices - would just serve to undercut their branded product.

Only disadvantage that I see is that it might make the FDA more eager to approve Teva's offering.

MNTA is going to be making an awful lot of money in the meantime (assuming they don't go crazy on their spend). Remains to be seen what multiple the street gives them. I don't think it will be too generous as there will likely remain an overhang of doubt about the possibility of a second approval. But even at a low multiple my view is the stock still has some room to run over the next year.

Peter