LONDON, April 18, 2017 /PRNewswire/ --
We are initiating coverage on Arix Bioscience following its February
(Logo: http://photos.prnewswire.com/prnh/20130417/608168 )
Using a risk-adjusted NPV analysis, we arrive at a valuation of Arix's assets (£133.2m cash, £27.3m portfolio, £11.4m other assets) of £172m or 179p/share. The value of the portfolio is nearly 100% above the cash spent to date (£13.7m). The stock trades at an 11% premium to this value, which is modest considering the strength of the company's management and platform, as well as the quality of the deals. We expect to update our valuation with the announcement of new deals.
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SOURCE Edison Investment Research
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