As SYC says, the US approach in the biotech space is...

As SYC says, the US approach in the biotech space is predominantly about share value growth, as opposed to revenue through dividends here in Australia. At times I do wonder about the different in psyche that results in that differentiation - maybe the US is more entrepeneurial?

Anyways...I too hanker for a day when I can live off the revenue streams from investments. But as SYC said on the call, I'm also a firm believer in growing the portfolio pie at early stages in a bio/tech/bio-tech company to increase overall company value, and to make it more resilient against early-stage buyouts.

Drain too much revenue/earnings in dividends reduces the company's ability to effectively compound the value of its research, which directly translates to a compounded value of the company and ultimately revenue as more products are released. Pay dividends too early, and PTX could be bought out for a much lower value, you lose access to dividends, and your overall realised value (in terms of capital value of your shares plus cumulative dividends over time) will be FAR smaller than if PTX had reinvested income until they broadened out to a diversified portfolio all pulling in licensing, royalties and sales dollars.

Which means more money to then license further technologies coming out of the Penns, Yales, Oxfords etc (and becoming a partner of choice for them as a result of the royalties they are garnering).