If BP is worried about the toxicity preclinicals or the P1, they can simply wait a few months.
AML is a niche market compared with cardioprotection and FTO ; there isn't a huge upside to be given away, and even less so in one geographic region.
It's easier to imagine a SPP happening after the licensing than before it. Presumably the market will react favourably to the licensing agreement. Yes, there would have to be free options in the current capital market climate.
Why Analysts Believe RAC is “Highly Undervalued”, page-96
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