Mark diamond went to dxb, when i spoke to james he thought their chart was impressive and it is, off just $10M upfront! Plus a CR to bolster funds plus another half million only upfront deal ...to show investors theyre serious about outlicencing more and more with big usa and china wide open. This chip chip strategy appears the winning formula. $10, $20, $30, $50 million upfront may not seem nearly as much as we feel we deserve, but look where it can get u - fomo! Fomo the next deal will be bigger and better and pay multiples.
we are at a very similar MC where dxb was last october. 10.5m upfront across just two deals and look where its got them.
why am i so focussed on this story? Because 100m plus upfront would be a big question this year as to if its possible, but those lower numbers are all VERY possible and the chip chip fomo approach may be too hard to walk away from. Dont get me wrong, im not saying sell the farm for $10m upfront, im saying Id welcome middle east, japan, china, even EU for a decent deal, royalties and big milestones.
yes we may not mimic the above chart as nothing is guaranteed, but... cash in hand to then negotiate more strongly from... thats a plan. And, james has the tools now. Just saying! Conference next week. Interesting times.
PER Price at posting:
7.3¢ Sentiment: Buy Disclosure: Held
