Well 40cps is quite reasonable if succesfull in Phase III trials but anything like that based on Phase I or even Phase II alone is like sitting on Santas lap asking for your Xmas presents
40cps is $400m.
Mipomersen, being with a similar market value as ATL1103, had a deal worth $325m after Phase 2a and upto $1.5b upon commercialisation and sales.
As such, your assumption that a successful Phase III could only get 40cps or $400m for ATL1103 is contrary to what had actually been offered to another similar valued 2nd gen Antisense drug.
The upfront payment for Mipo was equivilant to 32.5cps after Phase2a.
The question is, will it or will it not happen? If it does, I don't see why 40cps is a Santa present.
anp broker report - buysellsignals, page-13
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