PolyPid's asymmetry is greater after its Azurity licensing deal, which removed the financing risk even as the share price fell. The deal brings $30 million upfront plus up to $290 million in milestones and funds indication expansion, against a market cap of about $85 million. A base case of $250 million peak sales and an 18-20% royalty yields $45-50 million a year, worth $300-500 million at 6-10x, plus a manufacturing margin. Approval odds are about 75%, though price recovery may lag. x.com  x.com  x.com  x.com 

PolyPid solves an unmet problem in surgical infections, and it is overlooked while capital flows almost entirely to AI. Its paste, placed in the wound during surgery, releases an already-approved antibiotic locally for 30 days, whereas today's pre-surgery infusion acts on the whole body and breaks down in about 24 hours though infection risk lasts days. Phase 3 showed a clear drop in infections with no safety concerns, and US approval is expected in Q1 2027. x.com