Jul 18th 2012 - Edison Investment Research today published a report on BioInvent entitled "Then There Was One". In summary, the report says:
BI-204 is not formally dead, but Edison expects the funeral once the Genentech inquest concludes. No primary endpoint efficacy was seen. The investment case now rests in BI-505. As a Phase I cancer candidate in a crowded development space, this is risky but, in Edison’s longstanding view, this has the best chance of ultimate success. Management will be tempted to partner too early for immediate cash, but investors should either back the internal development project or sell the business. BI-505 only has value if sold direct or at least partnered after Phase II efficacy.
Edison Investment Research is a leading international investment research company. It has won industry recognition, with awards both in the UK and internationally. The team of 95 includes over 60 analysts supported by a department of supervisory analysts, editors and assistants. Edison writes on more than 400 companies across every sector and works directly with corporates, fund managers, investment banks, brokers and other advisers. Edison’s research is read by institutional investors, alternative funds and wealth managers in more than 100 countries. Edison, founded in 2003, has offices in London, New York and Sydney and is authorised and regulated by the Financial Services Authority (www.fsa.gov.uk/register/firmBasicDetails.do?sid=181584). more »
