Bioasis Technologies Inc. V.BTI

Denali gets it done. So can Bioasis.

[JDavenport]

Today, Denali Therapeutics announced that "biomarker proof of concept was achieved for its Transport Vehicle (TV) technology in a Phase 1/2 study of ETV:IDS (DNL310) for the potential treatment of Hunter syndrome (MPS II)."

Denali also stated in the press release, "“The robust reduction in cerebrospinal fluid (CSF) GAG levels observed after only four weeks of treatment with DNL310 in the Phase 1/2 study exceeded our initial goal in both magnitude and timing of heparan sulfate reduction after treatment,” said Carole Ho, M.D., Denali’s Chief Medical Officer."

These clinical trial results from Denali are with the Lysosomal Storage Disease, MPS II, Hunter Syndrome, the same disease that Bioasis' pipeline candidate, xB3-008, is designed to treat.

These results show proof of concept of not only a treatment for Hunter Syndrome, but also proof of concept that the delivery of therapeutics across the blood-brain barrier by receptor mediated transport (RMT) is likely to work across broad spectrums of diseases and therapeutics. This Denali press release mirrors the results that Bioasis achieved with Scarpa's studies as well as other Bioasis proof of concept studies in years past.

Denali yesterday closed at  USD $55.81. With 120 million shares outstanding, Denali now has a market cap of USD $6.7 billion. Remember that number as we watch Denali climb further with this striking news. Bioasis now has a market cap of CDN $24 million, or USD $18.48 million. Think about this. Every change of USD $0.154 (USD 15.4¢) represents a change in Denali's market cap equal to our entire market cap. Every 15.4¢ change in the Denali share price represents the entire Bioasis market cap.

It's not a stretch of any kind to think that Bioasis can achieve similar clinical results with the xB3 Platform and our pipeline. The current share price of 35¢ is ridiculous. We should move up today on this Denali news because our technology is as good or better than theirs. We may not move up because, hey, we're Bioasis, but make no mistake, Denali is showing us what xB3 is worth.

Davenport

[fouremm]

I agree with your take that Denali's success supports the case for Bioasis. I would think this both on a scientific as well as financial basis. Further to this I think that it would smooth the road somewhat for DrDR to complete some of the deals she is working on. Xoma has seen the light I think others will as well. 

[JDavenport]

At times this morning, Denali (DLNI) market cap has been up by more than CDN half a billion dollars. This on the strength of getting one enzyme replacement therapy (ERT) across the BBB and that the ERT is showing efficacy. Denali is showing what Bioasis can be worth! Davenport

[emmitfitzhume]

As always JD, excellent post and always great to hear your insights.  The potential for Bioasis is astonishing given XB3 seems to be a superior transport technology to Denali. One of these days, the broader market will awaken to this fact, and our current market cap should be a thing of the past I believe… Long and strong on BTI/BIOAF.