Stockwatch: Batsu Games − Drug And Vaccine Development
Investors New To Biotech Are Just Learning That Failure Has Penalties
Batsu is the Japanese term for games that have penalties, unlike those which are just for fun. Seasoned investors are well aware of the risks of drug and vaccine development but many investors new to the sector are just learning of the downsides.
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The company has no development programs left in its R&D pipeline and will focus entirely on the commercialization of IBS drug Linzess while seeking late-stage assets from external sources.
Biogen’s poor third-quarter results cannot be blamed solely on the pandemic. Pipeline attrition and underperformance in most franchises pushes all the risk onto a dubious throw of the regulatory dice.
Early in 2020, company guidance was that pandemic-related effects would have dissipated in the third quarter. Issues specific to J&J and Roche leave this broad conclusion still up in the air.