Biotech Values

[jq1234]

I owned both INCY and RIGL in the past, but out of both right now.

Most of INCY valuation comes from 18424, partnered with NVS, could be on market next year in MF - market probably prices 100% chance of success in phase III. 28050 for RA is in phase II only, don't think market gives too high valuation for RA.

I am uncomfortable with RIGL's drug safety profile, especially for RA long term use. The market doubts whether it can clear regulatory hurdle easily even if it maintains phase II efficacy. While 18424 competes with PFE's directly, I think for disease like RA with big and diverse market, no significant differentiation is not major burden, as you can see from antiTNF agents, which are all big sellers.