Biotech Values

[DewDiligence]

Is 10B dollars for PSI-7977 any less extraordinary?

Extraordinary, yes; crazy, no. (GILD had an out clause.) $3B for PSI-938—or anything even close to that—would have been crazy.

What do you think about the current valuations on IDIX and INHX going forward?

Their valuation are still too high, IMO.

As you may recall from our discussion some time ago, I was never on board with the notion that a dual-nuke combination must be the answer for HCV. I thought the idea had some merit—and I think it still does—but it is far from preordained.