Ann: Transgene Announces Topline Preliminary Resu, page-3

re: Ann: Transgene Announces Topline Prelimin... Strauss,

You seem to be forgetting that they have debts of over $7M were anything to come from T1040.

So on the last known's, milestone payments could be $10.8M which would leave them with $3m after the debt is taken care of. Thereafter it looks like they get a 2% royalty on North American sales only,

The earlier projection of $28.2M in royalty fees is that lifetime or what?

So much more detail is required to give any one any chance of valuing it.

LOTM