angelus:
I suggest you time would be well spent looking into why the deal between MSB and Cephalon (taken over by Teva) got International biotech Deal of the Year?
The reason why there are huge payments on completing milestones is ...why?
Many biotechs struggle to get through one set of clinical trials, MSB has many running concurrently.
At the very least it involves risk-minimisation.
Where is there evidence of MSB failing any clinical trials? Does it even look likely?
I'd suggest there is significant confidence in the players to that deal, and I suggest you stop conflating all bios into one. The devil is in the detail and understanding the difference between bios is critical.
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