But why even talk about a break even? They didn't get into this to break even. While we are at it no one works an underwriting fee into the price they bought at - that was a fee for the risk they took etc That money has been banked as income IMHO. If you want to factor things like that in why not ascribe an interest or opportunity cost into their break even? 5 years of forgone income - interest rates of 4% average or dividends with franking credits @ 8% plus capital gain on the earlier part - their break even is more like 20-50% higher on this calculation.
5-10c will be tempting, 15-20c definitely tempting but if it got there for any reason it is probably going to 40-50c cause it means they were successful.
USD140m just on Genetech and that's not royalties - that's just for getting through Phase 3 on biologics - if they ever get successful on Oncology it's a billion MCAP. Pretty unlikely huh but that's what they will be looking for I'll bet.
read Lion's posts again - he obviously has relevant contacts or information. The SP will do what it will do but don't ignore the information he is sharing - it's too specific. 3m parcels bought repeatedly today - something in that too I suspect.
PYC Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
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