Replies to post #85351 on Biotech Values

[DewDiligence]

Thanks, Peter. The RIGL fans appear to be away from their desks, but I expect they’ll reply when they return. Regards, Dew

[mcbio]

Re: RIGL-Syk-breast cancer link

I posted on SI about a potential negative for RIGL:

http://siliconinvestor.advfn.com/readmsg.aspx?msgid=26043521

Thanks so much for the link. I was one of the cautiously optimistic RIGL followers on here but that article should cause anyone to think twice about investing in the stock. R788 is not a one-trick drug as you alluded to, but the RA indication is so material to the valuation of the company that this news gives me sufficient reason to be bearish. Also, even the cancer indications for R788 might have to ultimately be scrapped if inhibition of Syk does ultimately increase the risk of another cancer.

I might reconsider if the stock drops significantly from current levels, but the stock has barely budged in light of this news which was from three days ago.

[mcbio]

PCYC-Btk inhibitors

Peter,

Do you know anything about PCYC's Btk inhibitors, which are being developed for RA, among other indications? (See: http://www.pharmacyclics.com/img/Btk_Executive_Summary_July_2009.pdf ) They had an interesting presentation at one of the conferences previously where they were trying to convey the point that targeting the Btk pathway may have the potential for less side effects than going after the Syk pathway, as RIGL is doing.

PCYC's Btk inhibitor for RA hasn't even entered clinical trials yet, and they would owe royalties to CRA on any sales, but I am keeping an eye on PCYC given the tiny market cap.