Well that's what we like to think, but really until they find a deal to put a price alongside it or commercialise something it's actually pretty expensive at $60M for still having nothing in clinic & no deals just a lot of "spectacular" lab stuff as they always have. $10M cash is good but they're spending over $2M a quarter.
Look at ANP for example in the DMD space with all the rave about PYC there and the "new" target - ANP have 2 antisense drugs passed Phase II they have another DMD drug in clinic - as for Ionis ANP were spun out of there and have a market cap a bit over $10M with their DMD drug in Phase II.
$60M for PYC might look "cheap" one day if the stars align - but as for now ? cheap ?
PYC Price at posting:
2.5¢ Sentiment: None Disclosure: Held
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