My read is that Acadia are one of the parties who want to license the entire thing and include a reasonably large (say $500m USD) upfront, but make it 'back ended' so that the total deal value could be what Neuren want (perhaps starting in the $5-7bn+ USD range) over all indications with a number of conditions, but it would take a long time to get there. I am comforted to know that even at this early stage we know there are other parties interested, and Acadia will know we're funded to do this ourselves so the $500m USD isn't really the carrot they think it is, and both parties know it. I figure Neuren will say if they want to pay that value now they need to have more of it upfront knowing shareholders don't want to wait, because they know the trial isn't particularly long and they are very confident that multiple parties will pay top dollar if the readouts are good.
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