$ALEC trading has been really weird. Wouldn't be surprised if there was an announcement (good or bad) soon

$XBI $BBP Me trying to model 30 new companies this week that I never thought I'd get to buy

I love deals because they create such interesting disclosure dynamics. Totally missed the SK call held the day after the $BHVN partial clinical hold, but here's what they said: "[Biohaven will] submit the data to the FDA between late September and early October, and the issue should be finally resolved between October and November," Yoo Chang-ho, head of strategy at SK Biopharmaceuticals, said at an online briefing on the 11th. "We will proceed with the closing of the contract after this issue is cleared." For those keeping track: RISE3 enrollment completion was announced June 30. Depending how you read "last patient" (± 2-week follow-up), data cleanup → topline should land mid-to-late October ish on the late end. Even if this finding is nothing, Vlad is literally relying on the FDA lifting the hold in time...if it doesn't hit. Another interesting datapoint: SK's external valuation implies peak global sales for Opakalim around $2.1B. Whether or not SK actually agrees with that, the number has to sit within error bars around that number even after you play with discount rates and success probabilities to back into the upfront + milestone structure (i.e. super bullish for $XENE)

$BBC $XBI $BBP