>>Hi Dew, I recently established a new position in DNDN at 6.03, and added more REGN at 6.6 (first position at 5.6). Do you believe these are fair values for buying these two biotechs?<<
I am long DNDN with an average cost of 5.75 and I started buying at 6.90. Unless something goes terribly wrong with the 9902a data, I think you will do fine from these price levels. Moreover, even if the FDA were to require 9902*b* to submit a BLA --resulting in a substantial delay to product launch— it would be hard to say with conviction that the current stock price was too high.
REGN I have followed much less closely and I do not fully trust management. (They strike me as similar to OXGN’s management, but perhaps a little less disingenuous.) VEGF-Trap appears to be on the slow lane in cancer, despite SNY’s stated commitment, and I have my doubts that this compound will make headway in AMD. In short, I cannot recommend the stock but neither can I say that one should clearly stay away. Regards, Dew
“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”
