takeover?, page-4

ITW

I'm not for one moment saying what you suggest may/will not happen, however any takeover or offer prior to FDA approval of CVAC will inevitably be a lesser outcome for shareholders than if PRR were to commercialise it independantly. Predators by their nature would be looking to keep some of the upside for themselves. Not what those of us with the long term view horizon would ideally want.

A far more palatable process in my view would be a marketing arrangement with one of the big pharmas (like ONTY has with Merck). Their global reach and strength would be a major asset to marketing and distribution. This type of rights deal usually involves an up front payment (say $100 mill) and ongoing royalty payments to PRR based on sales. It would also negate the need for any future cap raising and dilution, as the up front payment would fund the development of production facilities.

A win/win, I'd suggest.