Stock Watch: Debt And Biotech Do Not Mix
Debt Raises Are Poor Substitutes For Licensing Or Acquisition
Even with higher interest rates, some debt on the balance sheets of profitable biotechs is healthy. However, among loss-making biotechs and in the current environment, raising new debt has unhealthy connotations.
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When a loss-making rare disease biotech company’s product takes on Pfizer in the same indication but without the benefit of superior data, pharmaceutical marketing lessons will be learnt.
Ipsen Hungry For More Deals After Swallowing Epizyme
Ipsen CEO David Loew recently told Scrip that a return to more rational valuations for biotechs should led to more deals. The Epizyme acquisition could be the first of many by the French group this year.
Cytokinetics Rocked By Another Omecamtiv Setback
The biotech’s cardiology asset has failed an advanced study focused on exercise capacity in heart failure, having underwhelmed observers with past data, but hope remains that the LVEF subset could be a saving grace.