don't know him that well, but that squares with the little I do know. It's definitely interesting that he's here.
mentally, I kind of exclude biotechs from any enterprise value discussions, since the model for that sector often includes a trip into negative EV but so rarely leads to actual liquidation. So I should have been clear in saying Wish had the most negative EV among *non-biotech businesses*. In that group, I think they might be number one, though I admit I haven't done an exhaustive search on that.
Understood; negative EV biotechs used to be a dime a dozen, but Mr. Market is running a BOGO blue light special on aisle three of a nickel a dozen while supplies last. No need to hurry. I mentioned GLPG only because $2.2B is real money (or used to be until inflation spiked).
I've met Carlo a couple of times; he's a very smart investor and not someone to be trifled with.
GLPG has a negative $2.2B EV albeit with a ~ $425M annual cash burn (and a "rockstar" CEO!).
don't know him that well, but that squares with the little I do know. It's definitely interesting that he's here.
mentally, I kind of exclude biotechs from any enterprise value discussions, since the model for that sector often includes a trip into negative EV but so rarely leads to actual liquidation. So I should have been clear in saying Wish had the most negative EV among *non-biotech businesses*. In that group, I think they might be number one, though I admit I haven't done an exhaustive search on that.
Understood; negative EV biotechs used to be a dime a dozen, but Mr. Market is running a BOGO blue light special on aisle three of a nickel a dozen while supplies last. No need to hurry. I mentioned GLPG only because $2.2B is real money (or used to be until inflation spiked).