Replies to post #194874 on Biotech Values

[poorgradstudent]

MDVN:

What company-specific events (if any) caused MDVN to fall 40% from its high? I haven’t followed the company closely during the past year or so.

Not too many.

Eric Schmidt at Cowen has been pounding the table that xtandi sales have peaked and will never get near what everyone else is modeling. He said last quarter earnings will begin to affirm his thesis and come in at around 250 million in the US, well under the 280ish consensus. His continuous re-iterations of impending xtandi doom have continuously knocked the stock down.

FWIW, earnings for that quarter came in at around 300 million.

A reasonable critique of the company is that their non-xtandi pipeline is basically anonymous. To the point where they don't even list in-licensed / acquired drugs on their website as drugs under development. They've also provided little clarification about their development strategies for the pipeline.