- BiondVax, a biotechnology company focused on developing, manufacturing, and commercializing innovative immunotherapeutic products, was featured in a recent analyst report reiterating a Buy recommendation and a $70 target price
- The report discussed Eli Lilly’s announcement of a definitive agreement to acquire DICE Therapeutics for approximately $2.4 billion as evidence of the potential value of BiondVax in this segment of the therapeutics market
- DICE Therapeutics is currently evaluating its lead drug candidate, DC-806, an oral IL-17 inhibitor, in a Phase II trial, with early-stage results from the Phase I study showing a near-44% reduction in Psoriasis Area and Severity Index
- The report noted that the deal between Eli Lilly and DICE Therapeutics illustrates the potential valuation that BiondVax could receive with positive early-stage clinical results
- Also, revenues from FDA-approved psoriasis drugs show the potential value of the company should its IL-17 NanoAb therapy eventually receive FDA approval
According to Goldman Sachs Research, the global pharmaceutical industry is sitting on about $700 billion in dealmaking firepower, expected to fuel M&A-driven growth as companies look to revamp their intellectual property portfolio as their existing patents expire (https://ibn.fm/7VNq6). Flush with cash, big drugmakers also have easy access to alternative financing, factors that allow them to make aggressive acquisition bids for promising biotechnology companies and other targets (https://ibn.fm/Uo69R).
This played out recently when Eli Lilly and Company (NYSE: LLY) announced it had signed a definitive agreement with DICE Therapeutics, Inc. (NASDAQ: DICE) to acquire DICE (https://ibn.fm/CPCbR) in a deal valued at approximately $2.4 billion. DICE is a biopharmaceutical company that develops novel oral…
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