RNA interference (RNAi) went through a painful stretch of doubt a few years back, but two of the sector's leaders, Alnylam (ALNY) and Isis Pharmaceuticals (ISIS) have come roaring back on the strength of both solid clinical data and a "risk on" bullish biotech market. Tekmira (TKMR),
too, has come back into its own as a settlement with Alnylam has
cleared away some legal and IP uncertainties and the company repositions
itself as a product-focused biotech.
It's difficult to call any
RNAi biotech cheap at this point, and I can't help but note that a great
deal of valuation is being pinned to early-stage clinical programs,
which history shows is often a very dangerous move. Even so, if
investors consider what Tekmira could be in line to receive in the form
of royalties and from its own pipeline, this shares could still offer
some relative value.
Read the full article here:
Tekmira's Transition Worth Watching
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