In this report, the Cowen biotech team reviews what we see as the three major components of valuing a smid-cap biotech company: valuation methodologies, modeling probabilities of success, and building market models. Of note – the Cowen biotech team does not segregate coverage by market cap.
Valuation methodologies do not rely on specialist knowledge. The major differential from other sectors is a heavier focus on strategic M&A value.
Our research analysts dissect and detail the main parts of analyzing small and mid-cap biotech companies:
- – valuation methodologies
- – determining probabilities of success
- – building a therapy’s market model
- – decision points where it’s most useful to consult specialists/KOLs/experts including assessing mechanistic rationale, trial statistics, amenable patient populations, reimbursement hurdles, and probability of approval for programs with mixed data
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