While the market is focused on just the pending colorectal cancer trial data; it ignores several major points on YM BioSciences:

(1) the major safety advantage and targeted/discriminate EGFR targeting of nimo with best-in-class potential (2) the variety of late-stage trials planned or already underway for nimo
(3) the global consortium behind nimo clinical development
(4) the commitment of established big pharma licensees such as Daichii-Sankyo
(5) the strong balance sheet of YMI with estimated $55M cash and zero debt at mid-year
(6) the low cash burn rate ($3 – $4M per quarter) despite two late-stage drug candidates
(7) the ability of management to successfully resolve the FDA’s clinical hold on AeroLEF
(8) the expectation of four Phase 3 trials underway by year-end

However, the entire small and micro-cap biotech space is currently out-of-favor as evidenced by a spate of takeovers with 100%-plus takeover premiums, including: (1) SGX Pharma (SGXP) was acquired for $64M cash or $3/share by Eli Lilly (LLY) for its cancer drug discovery platform; (2) Kosan Biosciences (KOSN) acquired by Bristol-Myers (BMY) for its cancer drug pipeline; and (3) Barrier Therapeutics (BTRX) acquired by privately-held Stiefel Labs.

Last 5 posts by Mike Havrilla

• RxNews Recap: 01-27-10 Repros Therapeutics rockets on news of FDA meeting. GenVec sinks on offering - January 27th, 2010
• Albertis $12.8B Bid to Lease PA Turnpike Expires with No Deal - October 1st, 2008
• Congress Working Overtime: $634B Spending Bill and Bailout Plan - September 27th, 2008
• Pfizer is a Big Pharma Buy - September 24th, 2008
• Bristol-Myers Ups Bid to $62 for ImClone - September 23rd, 2008