Corporate PresentationSome new infos available about Methylgene with the publication of the corporate presentation made in San Francisco at Biotech Showcase in mid-January. The info is hard to get with this company.
They are clearly in the search of partnerships. This is not really a news. What is a news is that they will restart a phase II trial on MGCD0103, their HDAC inhibitor, on relapsed follicular lymphoma. This is a good sign of confidence from a company that is low on cash. To do that, you need to have a high degree of confidence that positive financial things will come in the next months.
Expected milestones in the next year
- MGCD265: Two Phase I's completed and reported
- MGCD265: Phase II Trial 103 on NSCLC. Stage 1 completed and reported. Stage 2 commenced
- MGCD265: Phase II Trial 104 (application to be annouced) commenced
-MGCD0103: Phase II Trial 008 commenced, completed, reported
-MGCD290: Phase I completed, reported, & ready for phase II (proof of concept)
- Seeking partners to enhance clinical outcomes & pipeline opportunities for 290, 0103, 265 and beta-lactamase inhibitor
Another very interesting information in this presentation is the fact that comparable biotech companies have market caps 5-15 fold higher. So Methylgene is clearly facing a confidence deficit. It's credibility is at it's lowest. It is valuated under cash. So it is valuated as if no new significant partner will be found for any of their programs.
It think that if only one of these programs can get a significant partnership deal. The valuation of the company will be restored to a more proper level. But this scenario remains very speculative. Something needs to happen, and it is very hard from the outside to guess what is really going on. So MYG at this stage is a gamble. A good one in my opinion, but still a gamble.
https://www.methylgene.com/images/gestion/corporate%20presentation.pdf