It's very rare for pharma buyouts to be more than $30bn....

It's very rare for pharma buyouts to be more than $30bn. Let's say hypothetically RAC sees success in all 3 pillars, and a buyer does their math and values RAC at $60bn.

A buyout of that size is unheard of for just a single drug, and most pharma companies don't have that much cash available to spend, even with debt.

Therefore the only way to make an offer that everyone agrees is fair value would be to lower the initial buyout price but to add in royalties. Like when you don't have enough to buy a house so you put down a deposit then pay the rest off over the years.

Such a royalty scenario would be especially good for RAC because of the exciting possibilities of how else bisantrene might be used. As Dr T said, he sees it as a platform with many potential applications.

RAC can only investigate the 3 pillars because as they said, "We're not Pfizer, we can't do everything." But a large pharma company with enough cash and man power could investigate many other uses after they've bought out RAC and acquired the rights to bisantrene.

It would be like if there were multiple other pillars beyond the existing 3, but we'd get paid for the first 3 pillars at buyout and then in years to come receive royalties for those first 3 pillars in addition to royalties for any other "pillars" that become successful.

I think this also makes it easier for a buyer to put a price on acquiring RAC because they wouldn't have to guess at the future to estimate how much owning bisantrene might be worth. With royalties it's like "if bisantrene becomes worth more, you'll get more."