PAA 2022 , Human Trials , Covid , MND , Oncology , HVTL-1, K9 Phase III, page-625

Great discussion.

I would just like to add that an "addressable market" is an over-used term in business negotiations.

For example CNN launched a new subscriber platform last month called CNN+. Their market research advised that the addressable market could be up to 20 million people. In the first month of operation they only managed 10k subscribers and have now closed the whole thing down after pouring multi-millions into it.

In the case of RAP, it may be a 22bn market segment, but I reckon Pfizer would be well aware that this particular product may be a bit hit-and-miss and the actual uptake could be minimal. They have offered for the extent of risk they are prepared to take on this SaaS.
I don't hold RAP,but if they did double the offer, I would take it and run like a bandit.

I feel that PAA is on much more solid ground. The first generation of mTor drugs have already been commercialised and they are worth plenty. That provides a baseline for leveraging negotiations. I would expect a partnership deal for doggies to be done and dusted later this year. And if MPL demonstrates success with MND and anti-viral indications as well being a cancer treatment (if it works in dogs itcan certainly be translated to humans), then we have a true blockbuster on our hands.

We are currently delicately poised and I feel things may start moving upwards fairly soon.