The modelling I posted was based upon ROW revenues starting in 2026.
From the publicly available information I have access to Neuren seems likely to generate far more cash than they can possibly use on any of their currently outlined plans.
As a starting point, the $213m (US$140m) cash they have on hand is already enough to fully cover one phase 3 and even possibly both of them (if they were to cost the mid point of the range Jon mentioned).
Unless Daybue is withdrawn from the market or Acadia goes bankrupt, Neurens income from Daybue will continue to increase significantly, from both US sales growth, US milestone payments, ROW 1st sale payments and ROW revenues. Their G&A expenses are remarkably low. Neuren is a cash cow any way you look at it.
When Acadia will move forward with NNZ-2591 for Retts or Fragile X noone knows. Which is why I left these out completely in my modelling.
(20min delay)