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.
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