Biotech Values

[poorgradstudent]

INCY:

Not too surprised. I think there are two pieces of "uncertainty" hanging around the company:

1) The (imo) false uncertainty that after one year of treatment, the drug is no different than the standard of care in treating MF patients. This is the worry that was kicked off by the NEJM letter.

2) The (imo) real uncertainty centers around sales expectations and the size of the addressable market. Analysts are usually able to say "well, drug X sells this much in indication Y" and make extrapolations for new drugs for indication Y. For MF, they really have no reference point whatsoever.