Biotech Values

[ghmm]

LGND:

Thanks for the link to the detailed report! Just skimmed it right now but seems really detailed on the compounds

Dinaciclib is a compound I have not looked into. Any idea on the royalty? I just skimmed the report so perhaps its in there.

I agree on Promacta when I bought the stock I thought they could get to 400-500M assuming they get approved in some oncology indications. Ligand would do quite nicely (for their size) at that (~25-35 million). I thought we would (perhaps still) get a pickup in sales with the removal of the REMS (it was December '11).

I am still hopeful our Carfilzomib royalty is 2%+ and not just 1% which could be a nice amount (especially considering what they paid for CyDex.

So far their deals have been pretty good (what I like to call as Ben Graham type deals). Nothing spectacular but paying peanuts for the assets. I think as their revenue base grows they could start to acquire more meaningful royalties/potential royalties.

I think the at-the-market offering wasn't the best way to raise funds and is a bit of an overhang. Owning royalty companies in the past I know they need to raise money and am OK with that (as long as its done opportunistically) just the way they did it wasn't the best IMO.