Biotech Values

[BTH]

There hasn’t been a big Phase III clinical trial yet to prove that blocking PI3k can have a big impact on cancer patients, but a number of companies have been working on various small-molecule drugs in earlier stages of development. Gilead Sciences paid $375 million up front last year to acquire Seattle-based Calistoga Pharmaceuticals, which developed a specific PI3k inhibitor aimed at its so-called “delta” variations of the enzyme that are implicated in blood cancers. Millennium paid $190 million up front last year to take over San Diego-based Intellikine and its portfolio of PI3k-inhibitors against lots of different variations of the target.

If these companies received that type of money, then ONTY with PX-866, mkt cap $200 million is not being valued properly, IMO. Heck, their cash is what now---- $100 million?