Replies to post #223109 on Biotech Values

[mcbio]

Re: JNCE

Thanks so much for the post and links! Those certainly do at least seem to provide some support for what JNCE is proposing to do next. I'm with you as I'm still assuming it's likely just a long shot. JNCE just caught my eye trading below cash and at least being a very novel IO player. And they're a fairly new company so I don't want to completely discredit them for what is really just one failure to date.

I'd be surprised at this valuation even if they were to have rights returned from the CELG partnership that it would seriously cause shares to tank much as shares are already so depressed. To their credit, JNCE did get great terms on their drugs partnered under the CELG deal. Looks like LILRB2 is the next drug from their partnership set to enter the clinic (targeting macrophages). Not sure if you have any opinions on that target.

I'll probably just continue to watch for now myself even if it is a bit tempting with the valuation, cash, and novel pipe.

[poorgradstudent]

Re: JNCE

The obvious caveat is that there was preclinical data to support the PD-1 combo, but they barely got a signal

Interesting. When I looked into this one, my personal conclusion was that the preclinical data rationalized a CTLA-4 combination but did not support a PD-(L)1 combination.