Depends on how you look at it...
IMCL has a market cap over 500 million now, but up until the recent analyst coverage and press, it was less than 200 million. BIOM has a market cap around 160 million, which may seem a lot less, but it is actually in the top 4 of all small cap biotechs in late stage cancer treatment trials. It's actually remarkable given this is a Canadian company. Another downside is the float - only TCLN has a bigger float.
My point is...IMCL is a bit inflated (but I don't shout about that too loud as it's one of my longterm holdings as well). But IMCL does have the big analyst coverage, institutional accumulation, and a more diverse pipeline - it also has momentum, which has allowed it to exceed it's peers.
Comparable companies in market cap:
APHT - 157 mil. (has 2 P3 trials for Gastrimune)
ILXO - 128 mil. (has 2 products in P3, 1 already fast-tracked)
LKST - 148 mil. (1 product in P3)
There are at least (8)other small biotechs, also on Phase 3 trials for cancer treatments, all with less than a 100 mil. cap.
The good news, imho, is that BIOM can become just as popular as IMCL given the right news and coverage. And you are right about BIOM's vaccines - they do stir the imagination - and they are "real" vaccines with longterm memory and effectiveness (unlike monoclonal antibodies, which are short term only).
I think that part of it is timing. Insitutions and analysts want to see full enrollment of P3, and perhaps even the first 6 month data set. If that is followed through with a fast track designation, I think we could see a 500 million cap fairly quick (that's about $10-12/share, and would be equivalent to IMCL). IMCL does have 2 lead products, but the inital marketability of them compared to Theratope is about the same ($150 - 500 million).
I sold 3/4 of my position on the ASCO news...but I'm almost back to a full holding. Been buying back on those 3 1/2 - 3 9/16 dips.
SM |
