Friday, January 23, 2009

Another rough week draws to a close

It was another interesting week, with all sorts of corporate and financial troubles, coupled with the change in presidential administrations. A few of my portfolio companies reported earnings this week, and despite cloudy outlooks for 2009, the results were strong and P/E ratios are modest. There was also other company specific news, and that continued today with Alnylam (13.6% of portfolio). They reported the FDA's approval of their IND to begin enrollment of a Phase 1 trial for ALN-VSP, targeting liver cancer. The company will face challenges in showing clinical efficacy and effective delivery of RNAi therapeutics. But at least they are on track with stated milestones and plentiful funding.