EXAI - Exscientia: Drug Discovery Using AI For Sanofi And Self-Owned Pipeline

• Exscientia's AI platform is used to identify promising molecules that can proceed to the next step of drug development by large pharmaceuticals like Sanofi.
• This technology partnership with Sanofi as well as Bristol-Myers brings millions of dollars of benefits to the cash flow.
• These inflows are subsequently used to offset outflows incurred in developing the biotech's drug pipeline, which is either co-owned or wholly-owned.
• Comparison with a peer reveals that the market has already rewarded the British company's superior growth metrics with higher valuations, but, considering the $100 million of revenues this year, it deserves better.
• Updates concerning its ESX161 Covid-combating compound should constitute catalysts for an upside, but, in the same way as other biotechs, expect a high degree of volatility as well.

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