RE:RE:shocker... THERAPURE
Completely agree on the optics. But having said that, if GMP and CIBC put their firm's reputations behind a $1B valuation for Therapure, then they have to think they would defend a PLI valution of $5B PLUS given the relative merits of the companies. Therapure is MILES behind PLI, looking at commodity fractionation products, and otherwise trying to copy PLI's business model. From what we understand, they havent even scaled up the commercial process.... a process which Celgene dropped deeming it uneconomical. Looks like a nice webpage with lipstick on a pig to me. Looks good on Catalyst after they were such a pleasure to deal with many years ago.
There has been alot of talk about CIBC coverage initiation. Perhaps this IPO effort was a conflict slowing down the initiation. Now that this IPO is dropped indefinitely, I have to take the glass-half-full view that CIBC Is now going to initiate coverage with a huge valuation target on PLI... if nothing else, based on what they justified and were trying to sell on Therapure