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  "documentTitle": "PeptiDream, Inc. (4587 JP)",
  "authorId": "51_Muddy_Waters",
  "authorName": "Carson C. Block",
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      "text": "PeptiDream Has a Number of Peptide Discovery Competitors Who Are Far Surpassing It",
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      "text": "FY 2027 Milestone & Royalty Revenue: ¥20bn",
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      "text": "Figure O, below, outlines the many peptide drug discovery companies that operate in a similar space to PeptiDream. While the competitors are generally more focused on in-house development than PeptiDream is, it is notable that the valuations...",
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      "text": "As intellectually dishonest as Analyst A's projections appear, those of Analyst B and C seem more egregious, since they predict even higher revenues and commercialized products counts.",
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      "text": "A comparison with other peptide-based discovery platforms shows that PeptiDream's valuation is ludicrous. Although the Company presents its PDPS technology as a one-of-a-kind value proposition, it competes with at least 13 other peptide drug developers...",
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      "text": "The range of competition also indicates that PeptiDream is not a pharmaceutical company's only option if it is looking to partner on development of peptide-based drugs. Indeed, some of PeptiDream's Pharma Partners are also partnered with other competitors.",
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      "text": "42 Estimated based on split of milestone, royalty and license fees from Analyst A Initiating Coverage in Sep 2016",
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