PYC 2.38% 10.3¢ pyc therapeutics limited

Ann: Janssen Collaboration Expanded , page-10

  1. 315 Posts.
    My friends, there are a few inescapable truths:

    - Pharma does not (often) buy "ideas", "frameworks" or "technologies". They buy revenue streams.

    - From a Pharma perspective, buying a small Australian biotech costs - the (insignificant) purchase price, covering the risk of the key principles departing, linking into the research management structure, reputational risk, etc.

    Phylogica is a discovery focused biotech with a platform technology. Pharma have them exactly where they want them:

    Starved for capital (which is cheap for Pharma)

    At their beck and call - Pharma has no problems getting the research initiatives they want for chump change.

    Why would Pharma change this situation?

    From a PYC holder's perspective:

    - The current shareprice heavily discounts due to the uncertainties and does not adequately reflect the value of the framework.

    - More money will need to be spent to fully develop the framework. We are a long way from significant drug royalties.

    However, if they can reasonably achieve cash flow self-sustainability - this will be a fantastic company to hold.

 
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