Biotech Values

[DewDiligence]

Regado/MNTA—I'm aware that factor IX is farther upstream, but do not know what the clinical consequences of each approach are.

The further upstream you intervene in the coagulation cascade, the more opportunities there are for something to go wrong and cause excessive bleeding or some other undesirable outcome. Unlike Factor IX, Factor Xa is a logical place to intervene in the cascade because thrombin catalyzes the conversion of FV to FVa and FVIII to FVIIIa, creating a feedback loop though FXa that greatly accelerates the production of more thrombin. (This feedback loop is omitted from the diagram in #msg-26899675 for simplicity.)

If [Regado] partners REG1 before MNTA partners M118, then I'd be worried.

That’s fair, IMO, unless Regado’s partnership deal is entirely back-end-loaded.