Good Q, I have no answers on NEU, but If I can offer two thoughts on comparative value drivers:
1) Molecule (Compound) Creation:
PYC has a 60-70 strong internal scientific team with capacity to produce 1 FDA IND molecule per year, ie it has an end to end platform that is very strong pre-clinical (in the above posts you could potentially value the company on that basis - I.e. every year it creates an attractive IP value box housing a molecule that is very attractive to a Roche to bring to market ~ US$100m of value created per year)
NEU I’m not sure if it has an internal drug discovery team/platform, but what they have arrived on so far is stellar!
2) Future Pipeline Growth
NEU model will be to apply its 2 existing compounds to try and show ‘benefit’ to as many like for like clinical indications as possible
PYC will create new compounds to precisely treat a wide range of clinical indications intracellularly, ie root cause, only thing missing is a partner like Acadia to help out
Both strategies have merit, hopefully PYC gets better and better at creating their bespoke CPP-PPMO molecules, and one day land on a mega mega blockbuster (I.e. previously it was very close to an ALS target)
you can see how the below pipeline will morph differently over time as PYC will not be reliant on any one molecule:
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