What i like most here is the risk reward scenario, one that other Biotechs really don't share. Yes should they take their drugs to the end point & proving succesfull they're are open to much larger rewards being the sole participant & holdimng all rights to a new drug, but you only have to look over the industry as a whole & the number of failures far outweigh those that get to the honey pot.
PYC - 3 deals with each with avg. $100m potential revenue
** company expenditure ~$2-3M for screening each partner
** half of that is accounted in inital payments so really $1-2M
** all trials from that point BP's risk/expenditure but potential revenue still free to accumulate.
** if a partner walks on & fails to carry further or a drug fails in clinical trials -- SO WHAT ? - there's still a swag of other partnerships lined up / in progress & all the failure has really cost PYC is the intial $1-$2M input.
A far better position than many others that have thrown $10-$20-$50-$100-$500M into a single project only to see it fail in the end.
PYC Price at posting:
7.4¢ Sentiment: None Disclosure: Held
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