Sorry Baldy I missed your comment from a while back. I had another listen to the podcast today and my initial comment about Jon saying they can do a different type of deal whereby I wondered if he was referring to a takeover was incorrect. @theguama's interpretation is closer to the mark, I think what Jon was saying was they can negotiate from a position of strength and achieve better/higher economics without going to a partner with hat in hand a la Acadia.
I'm pretty sure Jon means 2591 is worth at least 4 x Rett syndrome "market" ie TAM, not the Acadia deal specifically. He doesn't seem to be adding on any premium for 2591 being a platform drug i.e. its utility across multiple indications making it more attractive than a drug that could treat one or two indications only.
At the time he commented about Reata, the impression I got was he was internally scoffing at the notion Neuren would be valued less than Reata because they had only one drug and one indication. I do agree with recent comments that Biogen overpaid for Reata, but then again Skyclaris is not a platform drug and Neuren has two drugs not one. So I think the comparison to Reata is still valid and should be acknowledged as a realistic benchmark in terms of takeover prices, but I maintain my discount Neuren wouldn't be sold for more than US$10 billion (Naturally I hope I'm wrong and its far more than that)
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)