Biotech Values

[mcbio]

ACHN

Since there continues to be buyers at this level I would be interested in hearing a fundamental reason to own this stock.

Are investors still waiting for a large pharma buyout? Is the smart money really this dumb? Let's hear the case.

Judging by my Twitter stream, people apparently think the upcoming PI+NS5A combo data will be good and either enough to move the dial then or enough to move the dial when/if that combo gets to market. I completely disagree without a nuke and I don't trust that ACHN somehow all of a sudden has nuke expertise. ACHN risk-reward here makes no sense to me at all in light of much cheaper HCV competition in IDIX and Medivir (which I'm long) that seems to be much better positioned IMHO.