Hybridan update
Over all, PLI have a $ 1.00 target with coverage that give no value for the therapeutic.
Just imagine if something happen with PBI 4050....
ProMetic Life Sciences (PLI) has announced that its lead drug candidate, PBI-4050, for fibrosis is on track to enter a clinical trial programme starting in September 2013. This follows the successful execution of all key activities required to enable the initiation of the clinical trials. The initial Phase Ia trial to confirm safety in healthy humans is expected to be conducted in Q4/2013, followed by enrolment of patients in early 2014 to demonstrate efficacy in a Phase Ib-II trial.
Our investment thesis for Prometic is based primarily on its Protein Technology activities, which benefit from the visibility of recurring revenues as evidenced by the multi-million dollar licensing and long-term supply agreement announced earlier this week.
Given the high risks associated with drug discovery, our valuation model has assumed no value for PLI’s in-house Small Molecule Therapeutics business. However, it remains a source of significant valuation uplift particularly if positive safety and efficacy data from clinical trials of PBI-4050 allows PLI to enter into a strategic alliance with a major pharmaceutical company.