Replies to post #37924 on Biotech Values

[DewDiligence]

>I would like opinions on DYAX<

DYAX is a pretty interesting company, IMO. You’ve laid out the pros and cons nicely, but I could swear you mentioned Jerini the first time I read your post. Did you edit it?

In any event, DX-88 has competition from Jerini/ABT and also from Pharming. HAE is an orphan indication, so something’s gotta give and I have no idea how it will shake out. (As a GTCB investor, I’m rooting for Pharming.)

>DX-88 for CABG(?)<

The question mark is deserved, IMO, because this is a high-risk venture. Risky enough that even GENZ wanted no part of it and DYAX has to date been unable to secure a new partner. I would not ascribe much value to this program until there is a partner and more clinical data.

At an enterprise value of ~$100M, I’m neutral on DYAX. I think the company has some buyout vig and the income stream from their phage royalties could prevent a total collapse even if DX-88 fails. I’d be considerably more interested in buying in the $50-75M range than I am at $100M. Regards, Dew

[genisi]

One more pro- insiders were buying between 2.94$ to 3.15$ a share, for 140,100$ and 0 sales. Although it is not large some of money it give some positive angle.