Reading a few articles this afternoon, it seems that the big pharmas are somewhat hesitant to snap up idenix or achillion because their lead drug is a protease inhibitor which most of the pharmas already have in abundance and dont require to supplement their cocktail of anti virals.
I believe wednesday's presentation by biotron at the JP Morgan conference in San Fran will be a pivotal moment for the company.
In the current euphoria about hepatiis C, Biotron has never been in a better commercial position having $9 million in the bank, positive phase 2a HCV results, future HIV results and a new novel compound that targets the p7 protein in the HCV virus and viropirin in the HIV.
If I was a company pharma executive and I'm trying to impress my board and shareholders, acquiring a bio drug developer that has a new way to tackle HCV/HIV without paying the billion dollar plus figures of Pharmasset and Inhibitex, it looks like a win win for all.
I have a strong feeling a commercial offer will be made within 2 weeks. Based on the premiums others are achieving, any offer would have to be over 60 cents to gain shareholder approval.
Very exciting times, Im all in today.
BIT Price at posting:
14.0¢ Sentiment: LT Buy Disclosure: Held
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