Apparently a great deal with Ironwood but little action here. What gives?
Some people were probably hoping for a much larger up-front payment. As it is, $3m up front and another $10m in the first two years isn't enough to guarantee further capital raisings won't be needed, let alone enough to immediately justify a larger market cap.
Most of the value in the Ironwood deal is "down the road", so investors with short-term horizons may have found it discouraging.
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