Replies to post #226586 on Biotech Values

[DewDiligence]

ABUS was (undeservedly, IMO) +60% today on this news.

[DewDiligence]

DRNA 3Q19 results—pro-forma-cash=$513M (including $200M due from Roche):

http://investors.dicerna.com/news-releases/news-release-details/dicernatm-announces-third-quarter-2019-financial-results-and

[DewDiligence]

DRNA +15% on NVO collaboration:

https://finance.yahoo.com/news/dicerna-novo-nordisk-enter-agreement-110000877.html

Dicerna Pharmaceuticals, Inc. and Novo Nordisk A/S today announced an agreement to discover and develop novel therapies for the treatment of liver-related cardio-metabolic diseases using Dicerna’s proprietary GalXCRNAi platform technology. The collaboration plans to explore more than 30 liver cell targets and may deliver multiple clinical candidates for disorders including chronic liver disease, non-alcoholic steatohepatitis (NASH), type 2 diabetes, obesity, and rare diseases. Dicerna will conduct and fund discovery and preclinical development to clinical candidate selection for each liver cell target, and Novo Nordisk will be responsible for all further development.

…Under the terms of the agreement, Dicerna will receive:

• An upfront payment of USD 175 million.

• A USD 50 million equity investment in Dicerna at a premium.

• USD 25 million annually during each of the first three years of the collaboration, contingent on Dicerna delivering RNAi molecules for a defined number of targets.

• Up to USD 357.5 million per target in development, regulatory, and commercialization milestone payments, plus tiered royalties on product sales ranging from the mid-single-digits to mid-teens.

This is DRNA’s second major collaboration in the past few weeks; the other is with Roche for HBV (#msg-152014949).

[DewDiligence]

(DRNA)—Roche starts phase-2 multi-combination HBV trial:

https://www.businesswire.com/news/home/20210304005276/en

DRNA earned a $25M milestone payment from Roche for the start of this trial.