Biotech Values

[DewDiligence]

As you may recall, I think PTLA is a loser company. I’ve already questioned the credibility of the company’s phase-3 program for Betrixaban, and the $100M raise makes it pretty clear that PTLA will be going it alone for both Betrixaban and PRT4445.

Under the circumstances, it’s reasonable to inquire why BMY/PFE, JNJ/Bayer, and Daiichi Sankyo haven’t done more than ink cashless, non-exclusive arrangements to supply their FXa inhibitors for phase-2 testing with PRT4445.

Two possible explanations: i) the Big Pharma science staffers aren’t convinced that PRT4445 is a one-of-a-kind FXa antidote; and ii) the Big Pharma marketing staffers think giving too much credibility to an antidote sends the wrong message to the docs who are prescribing their anticoagulants.