SNTA
Price: $9.50
MC: $332m
c/s: 35m
Cash : $100m
Burn: $70m
IPO: $10.00 on 2/6/07 (Bear Stearns, Lehman, Lazard and Montgomery)
Retained Deficit ($224m, during development stage!)
(my) Summary of value/issues
1. STA-4783, Metastatic Melanoma, an HSP70 agonist, expect P3 to start mid-07. Questions about whether indications will be expanded, but it was underdosed nsclc vs MM. $175m.
2. Aplimod for RA and CVID in P2. Failed for Crohn’ s and psoriasis. $0.
3. STA-9090, HSP90. IND promised 1H07. $30m.
4. STA-9584, anti-angiogenesis, preclinical. $0.
5. CRAC ion channel inhibition on immune cells, Lead Optimization. This is an interesting program one to watch and if it produces an IND it might get significant attention. For now, $0.
6. Will need to go back to the market with another 5m shares soon. Huge lock-up unloads in 6 months. |
