Biotech Values

[oc631]

Seems to be bearish for everyone targeting PCSK9 (REGN, ALNY, etc.) and not just ISIS.

This may be a good call as it relates to ALNY's ALN-PCS which targets PCSK9. Last Wednesday ALNY touted the drugs early Phase 1 results and during the C.C. management was asked whether they would move forward without a partner. They failed to answer the question but on Sunday ALN-PCS was clearly moved to the "drugs to be partnered list" upon stating their "Key goals for 2012"


http://finance.yahoo.com/news/Alnylam-Provides-Key-2012-bw-3785591528.html?x=0


This move doesn't instill confidence in their second generation MC3 RNAi delivery considering they ended the year with 260 million in cash to invest along with all the built-up excitement over this drug. Is it the target? The expense of running trials in severe hypercholesterolemia? What bothers me is they chose to license another form of RNAi delivery from ARWR for their 5TH drug in the 5x15 initiative.


http://finance.yahoo.com/news/Alnylam-Arrowhead-Form-bw-4151279474.html?x=0


I can rationalize that this is being done to hedge their pipeline from legal claims by TKMR but shelving ALN-PCS, and partnering with ARWR for delivery, should raise doubts over second generation MC3.

Acgood thanks for the D.D. (http://www.biotechduediligence.com/alny.html) and please chime in.