While Dyax Corp. (NASDAQ:DYAX) is still busy in its promise of great results of the early-stage trial, the company would not have realized yet that it has reached the spot in the top 50 companies that are highly-valued in Massachusetts. Ranking at #49, Dyax Corp. has now surpassed the best beer maker of the state and its worth is more than it on markets. At present, the market capitalization of this company is $4.1 billion. It is just slightly lower to the Alere Inc (NYSE:ALR), the diagnostics firm. However, it is ranked about the best Sam Adams beer maker, Boston Beer Co Inc (NYSE:SAM).
Is the biotech industry highly overvalued?
While this rank of Dyax Corp. establishes its strength and esteem in the industry of biotechnology, it is also raising concerns whether the industry has become over valued or not.
With the ranking, it has become evident that Dyax Corp. is the fourth most high worth and valuable biotechnology company in this state. It is trailing some of the global companies like Biogen Inc (NASDAQ:BIIB), Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) and Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY).
Kalbitor drug study makes Dyax Corp. suddenly prominent
Company’s single drug, Kalbitor has fetched it $68 million of revenue in 2014. The company’s stock surged high previous week, when it became suddenly prominent with its result of trials of enduring form of the drug, Kalbitor. This drug promises to prevent attacks of HAE or hereditary angioedema, a rare disease.
After its meetings with the U.S. Food and Drug Administration, the company is planning to kick off the late-stage trial of this drug as well. The results might come by the beginning of 2016. It is estimated that if the results of this study are positive, it could help the company in fetching $1.8 billion revenue by 2019.
The drug study has indeed marked the presence of Dyax Corp. (NASDAQ:DYAX). in the market, which will take it even higher in terms of value.