RE:RE:ONCY's pelareorep is now Phase 3-ready"Bay Bridge Bio values ph3 ready biotechs at $1.248b usd" - Perhaps however Bay Bridge's valuation models cheaper small molecule pharmaceuticals (chemistry derived) and does not particularly address the oncology market. Instead Bay Bridge Bio's model has taken a 'shotgun" approach that includes all small molecule drugs in all disease states, even where M&A activity is not very active, thus lowering acquisition valuations.
Bay Brige Bio's valuation model does not specifically address Phase 3 biological assets in today's world of late-stage oncology platform products that are capable of treating multiple cancers, as a single agent or in combination with other I/O agents. (Note Gilead's acquistion of single asset Immunomedics for U$21 Billion, Merck's acquistion of Phase 2 Prometheus Biosciences for US$10.8 Billion, Pfizer's US$43 Billion offer for Seagen, Amgen's US27.8 Billion acquisition for Horizon Therapeutics, Illumina's US$ 8 Billion for Grail, and a growing number of similar examples)
Consequently, Bay Bridge Bio's valuations model is particularly simple (as admitted to by Bay Bridge Bio) and arguably overly simplified since it does not model the M&A valuations of biological oncology drugs, which are increasingly being approved and introduced into today's world of cancer drug therapy for the treatment of multiple cancers.