Go it alone or do a deal??

I’ve been wondering what the BoD is thinking WRT doing a deal now vs going it alone and how to fund that.

How do you do a deal now but keep alot of potential future upside?

There seems to be one logical answer.

Sarepta is now $10bn market cap. RBC just put out a report this week saying Sarepta’s gene therapy pipeline is worth $5bn revenue per year. If Etiplersen is a $500m/ yr drug for US sales only, the entire PPMO silo would do approx $2bn / yr in US and Europe and may need ATL1102 to do it.

This Totals US$7bn in rev for a market cap of US$70bn if trades on 10x rev. That’s 7x share price upside from here.

How could Sarepta justify a decent sized bid now? For a $50m company?

This is just thinking out loud but To satisfy the ANP BoD and the Sarepta shareholders a bid would be approx 25% cash ($200m) and 75% scrip ($600m worth) roughly.

That would allow ANP shareholders and BoD to go along for the ride in Sarepta shares, only dilute Sarepta shareholders by 6% and be a big enough deal that ANP shareholders dont think they gave the company away.

Does anyone think this is in the realms of reality?? Or even a possibility?

With Prizer looking to be edging slightly ahead of Sarepta in the Gene Therapy race, the odds are shortening.. also, in the ********* article this week, Sarepta was mentioned 4 times... coincidence??