Biotech Values

[DewDiligence]

>>I'm long both RNAI and ALNY and still think that both cos are a good long term bet. The tech is so fundamentally, well, wonderful, is the term that comes to mind that somehow it'll all work out in the decade to come.<<

You could well be right. However, I think the promise of RNAi therapies took a bit of a hit when ALNY and MRK dropped out of the AMD arena based on the partial phase-3 data for Lucentis.

I also think ALNY’s deal with NVS was more favorable to NVS than it was to ALNY. It concerns me that ALNY may become (or may have already become) a quasi-contract-research shop with relatively limited upside for its own shareholders.

Moreover, your point about pass-through royalties is well-taken. Regards, Dew