Biotech Values

[mcbio]

I think you’re overreacting a little. ABT’s in-house JAK-1 is pretty far behind GLPG0634. Moreover, as rkrw noted in #msg-74530950, having ABT decline to exercise the option on GLPG0634 is not necessarily a bad outcome for Galapagos.

Just in terms of thinking about the stock, I could just see a possibility of the market cooling off on Galapagos once ABT brings their JAK into the clinic and shows PoC (assuming they do). I realize that's a little ways away so, if I owned Galapagos, I'd probably be comfy with holding shares in the interim through the end of this year up through Phase 2b results and hopefully the large ABT milestone. Just not sure how comfy I would feel holding beyond that point as it relates to risk-reward.