RE:RE:RE:RE:RE:RE:CG Oncology making new highsDJDawg wrote:
CGON is interesting. They are a biologic. They won't have enough data to submit to FDA till end of this year, if that. Biologics have tons of manufacturing issues so the process of approval can be more prone to rejection based on issues with the facility making the drug. Either way, it is about 9 m from application to approval. So, best case scenario they have a drug approval late 2025.
The market cap is over 3B which is insane. Nothing justifies that. When an IPO goes live, a huge number of shares are LOCKED IN for 6m so they can't be traded. This is to avoid big share dumps but the people who got in first. I have seen biotech that really started falling at the 6 m mark and onwards because none of the orginal, first in, buyers are intending to wait years when their original investment is already way positive.
So wait 5 months from now and see.
In the past, the market seems to consider this category of drug to be worth about 1B market cap. 3 B is nuts.
Immunity bio is likely to get their drug approved end of April but who knows. If they don't because the FDA is concerned that the response is not durable once you stop all the instillations, then that woud be an interesting shift in this whole area. All of the immunotherapies appear to use similar models of frequent instillations that make it seem like you are cured but it is more of pseudo-cure (enrique's term). If the FDA stops endorsing this model, that would be a huge shift.
CON-007... I'm sorry, I had too. Lol...