OK, PYC say its strategic focus has changed (again). It’s goodbye platform company with peptide technology for drug discovery and hello “cancer‐focussed company developing first-in-class intracellular therapies using its disruptive drug discovery engine”. Mmm.
We’ve known about the company’s new cancer focus for a while. PYC told us they were chasing MYC in breast cancer. Oops, sorry…that was last month. It looks like PYC is still chasing MYC, but no longer in breast cancer. Instead, this month it’s focused on blood cancers such as Acute Myeloid Leukaemia, Chronic Myeloid Leukaemia and Multiple Myeloma. Stat 5 and YB1 are apparently still being chased , but are now being advanced in blood cancers.
That’s nice, but why did breast cancer get the boot? (I'm assuming it got the boot). And what happens if Genentech is interested in advancing PYC’s peptide solution to antibiotic resistance? Does PYC then become a blood cancer company that deals in antibiotics on the side? And what happened to the spin out/licensing opportunity of diagnostics, as mentioned as recently as April? Where did that "opportunity" spin out to?
So many unanswered questions. I have to admit I'm part confused and part curious as to what PYC’s therapeutic target will be next month.
PYC Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
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