I'll happily grant that the best path between two points isn't always
a straight line, but with all of the ups and downs (mostly downs) from Amicus (FOLD)
over the past year, I can understand if investors no longer want to
wait around to see if this recent strategic retrenchment proves a sound
move for the long-term.
With lead drug migalastat unlikely to make
it to market as a monotherapy, little data on combo therapy in Fabry's,
and a one year delay in the Pompe program, not to mention Glaxo (GSK)
bowing out of the migalastat program, bears have a lot to chew on. I'm
somewhat more bullish on the acquisition of Callidus, though, and I
think the market may be overlooking signs that migalastat could still be
viable as part of a combo therapy. Amicus shares could still be worth
as much as $4 today, but investors should note that this is a very
high-risk/high-uncertainty opportunity.
Please read the full article here:
Amicus Takes A Certain Step Back For An Uncertain Step Forward
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