Biotech Values

[mcbio]

BLRX was up 34% in TASE on this news:

www.globes.co.il/serveen/globes/docview.asp?did=1000718479&fid=1725

If this is an oral HCV protease inhibitor that didn't even enter the clinic, I don't understand the market's reaction at all.

The other thing that's odd about the PR is that there is absolutely no mention at all of the terms of the deal. BLRX is a small company so presumably they didn't pay much, if anything, in terms of an up-front payment since they should have presumably disclosed if otherwise. But, then again, what does the likely small price paid to get this HCV asset speak to the quality of the drug in this red-hot HCV market? I think BLRX may have just done this deal to cash in on the HCV craze and get a bump up in share price. Even if not, the stock jumped and I think they should take advantage of the jump and raise some cash.