Coin is in pocket, pocket is at cleaners.
Very sincere effort. One of biotech's oldest companies, managed into ground by previous management (CD4 diagnostics and other really lame projects). Have been trying to recover on back of TP-10 for years, and have therefore lacked leverage relative to other biotechs.
Haven't looked at TP-20, despite knowing complement fairly well.
Fighting uphill battle with complement inhibitors, as inflammation and reperfusion injury are complex (lotsa mediators), and other companies (ALXN for one) have gained on AVAN due to superior leverage.
VRII acquisition (rotavirus vaccine) was intriguing. Went to an old VRII presentation at H&Q and was not impressed. Vaccine failed an old trial in (??) Peru, and reasons were not clearly presented. The depot concept is not unique, but..... may be only game in town for rotavirus?
Please note that my comments are way, way out of date, that I haven't looked at the company in some time. Very, very familiar with company pre-Una Ryan..... played golf with old CSO, etc.
I like them and wish them luck, but they don't seem cheap at this capitalization. Remember, I haven't even LOOKED at TP-20. Any unbiased updates that you can bring to the thread will be welcome. |
