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DewDiligence

05/01/15 12:15 PM

#190758 RE: lgonber #190757

I think AAVL’s AMD program is high-risk due to the multifaceted nature of the disease, which makes gene therapy inherently difficult. Also, in a prior post, I noted REGN’s unwillingness to commit to this program in advance (despite the companies’ GT partnership in rare ophthalmic diseases).

All told, I consider AAVL to be fully valued on a risk-adjusted basis.