That would appear to equate to earning of $57m, which is slightly lower (10%) than the 12 month foreword earning I would expect.
There is a possibility of addition earnings should Arcadia sell their voucher. Also if we happen to get positive results from phase 2 and subsequent licensing deal with upfront payments. In my calculations I also attribute some value to the money already in the bank and the potential of NNZ 2591.
That would appear to equate to earning of $57m, which is...
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