johnson & johnson, page-14

You are correct: IL28B genotype is not relevant for DAA drugs, only in regimens with PEG. Yes, BIT225 has a different mode of action to other DAAs, by targeting a different part of the viruses life cycle, but this doesn't mean that it has a place in future HCV treatment - potency and efficacy are the key attributes required to make treatment regimens as simple as possible, and BIT225 might not be sufficiently potent. The concern for shareholders is that the HCV DAA development field is reasonably well-advanced, yet nobody has partnered with Biotron to date. Why is this? You only have to look at Avexa and apricitabine to see that a reasonably effective drug can become outmoded by the time it has advanced through the required clinical trials. BIT225 might be useful in other conditions, but there is no good clinical data yet, and the company will definitely need to raise funds to look into those if no interest is forthcoming in HCV.