I think it's pretty simple if Janssen comes through with a licensing contract and significant cash component, at least a high seven figure sum + expansion of the agreement then it will rerate significantly. If it doesn't materialize and just hits a "undisclosed sum" for progress then likely just a few hundred thousand as we've seen before but wont show until the next quarterly.
Ascent Biomedical came in amongst the $5M placement in 2011.
i regret not buying more in the cr, page-3
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