Valuation

BLT currently has around $15m cash ($10.5m @31/3/18 - $4.5m for June quarter + $8.8m raised @17c)
Plus, cash to receive US$10m/A$13.3m, total cash will be around $28m.
Current market cap $63m, enterprise value is around $35m.

Potential milestone payments of US$304.5m and tiered royalties, and 30% of the net profits on worldwide sales of AXO-AAV-OPMD.

ASX share price will be led by Nasdaq tonight performance.
Let's wait and see.


1. Benitec to receive upfront cash payment of US$10 million with additional cash payments
totalling US$17.5 million (a total of US$27.5M) upon completion of near-term milestones
for BB-301, now named AXO-AAV-OPMD

2. Benitec is potentially eligible for US$187.5 million in total payments upon the achievement
of development, regulatory and commercial milestones on AXO-AAV-OPMD
Benitec will retain 30% of the net profits on the worldwide sales of AXO-AAV-OPMD

3. Benitec and Axovant to partner on the development of five additional gene therapy
programs; Benitec to receive full research funding and be eligible for US$93.5 million in
development, regulatory and commercial milestones for each program.