BBIO

@GoodTidings And yeah, $ALNY , $BBIO , $NVO , etc. have massive war chests, Morgan Freeman is in the Acoramidis ads lmao—$NTLA does not have the capital to overcome the already almost-insurmountable hurdles standing in their way, and let's not pretend Regeneron are going to pay the bills for them, there's a reason $NTLA are "leading" both programs, and there's a reason $NTLA have the market cap they do.

@GoodTidings In short, they're late to the party, they're entering crowded treatment spaces with incredibly efficacious drugs that are cheaper, more convenient, and easier to produce. I don't mind what you choose to do, and hope that if you do decide to stay long Intellia, that it all works out and they commercialise successfully (FWIW I have no stakes in the alternative treatments mentioned in any of these comments, though I was long $BBIO for a while and $BCRX for a few months earlier in the year), but I would sincerely advise that you find another company to invest in.

H.C. Wainwright⬆️ $BBIO to $120, reit'd Buy/said~~Late last week, $IONS and its partner $AZN reported that the CARDIO-TTRansform Phase 3 trial of their agent Wainua (eplontersen) in patients with ATTR-CM did not meet the primary efficacy endpoint. ALNY PFE H.C. Wainwright added—From our vantage point, the possibility that eplontersen may not emerge as a commercial rival to acoramidis may represent an incremental positive for BridgeBio. We reiterate our Buy rating while raising our 12-month price target to $120 from the prior $110 per share. This reflects what we consider to be the reduced degree of equity dilution based on the terms of the preferred stock financing.

Updated revenue multiples on a peer group of commercial-stage non-oncology focused biopharmas with 1st FDA approvals between 2020 & 2023 (plus PTCT & ACAD) Analysts project ARDX $TARS & $MIRM to generate roughly the same revenues over the next 5 & 10 years yet MIRM trades at the highest multiple of the 3. This may be due to MIRM's low SG&A expenses versus the 2 offset by lower gross margins. This is not investment advice. We're merely sharing our analysis. TARS valuation is off ~$500MM after investing $75MM to acquire a, perhaps boring, bio with a compound in P3. Simple analytics suggest, by itself, TARS is oversold but of course we c/b wrong We include $ACAD & PTCT because their profiles appear identical yet ACAD trades at half their valuation. We should note PTCT's EV includes ~$2B from a royalty obligation. Some argue royalty sales/obligations should be excluded from valuation. This could be misleading so do your own diligence. $BBIO now trades @ the highest multiple after $IONS

On buying high-quality names when no one wants them: "Seth Klarman always said that you have to be buying on the way down - because you won't be able to get in in size on the way up." (Made me think of $BBIO 3 years back, very hated name w/ debt load or $TLX in $6's post CRL)