Whether it was a "sell the news" reaction or legitimate disappointment in the size and scope of the Phase III NASH study, Intercept Pharmaceuticals (NASDAQ:ICPT)
shares sold off to the tune of 16% on Tuesday when the company revealed
its plans for further development of obeticholic acid (or OCA) in NASH.
Calculating the value of any pre-revenue biotech requires a lot of
assumptions (and I'm well aware of the "garbage in, garbage out" risk),
but I continue to believe that the market is undervaluing what could be a
platform company in liver disease.
Follow this link for the full article:
The Math Could Get Weird, But Intercept Pharmaceuticals Looks Too Cheap
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