– Biopharma developing a drug for metastatic melanoma at a 35% discount to net cash.
– Sold-off 70% together with biopharma index $XBI, despite very positive company-specific news.
– Early study data published in Nature are outstanding and significantly exceed the current standard of care in terms of efficacy and durability.
– The phase 3 trial began recently.
– Current burn rate at $20 with $188m of cash on the balance – providing run-away into 2024.
– 70% discount to $14/share IPO price in Nov’21.
– 35% discount to net cash.
Exp. gain: Not specified.
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