$ABVX: The Final Update?

When I wrote my August 13th piece, ABVX was at $69.89. It had already moved much higher and most people thought the move was over. They were wrong and if you bought when I posted my article you’d be up roughly 70-90%. What matters to me now is where this sits today and how the risk/reward actually looks from here. What’s changed isn’t the science and it isn’t the drug and we most certainly don’t have to worry about earnings. The stage is already set. Obefazimod is essentially derisked, the commercial math is no longer theoretical, and the universe of realistic buyers is very small and very motivated. From my seat, this is a debate about how this resolves and on what timeline. That’s the only thing that matters now.