Biota MC = $130m
Biota cash position @ merger will be approx $100m
BARDA grant of $231m free carry cost of commercialising LANI for ROW
HRV is Phase III ready
Stockpile replenishment of Relenza very soon (value?).
Conservative revenue of LANI and HRV assuming FDA approval = > $200m?
Revenue if/when there is a pandemic (?)
Actual value of LANI, HRV and rest of pipeline ascribed by the market = $30m
LT Investment = No brainer
