Biotech Values

[kcalt]

Dew, the license agreement in the 10-k is worded poorly then. I was aware of the payments received and to be received near-term, but as i read the PRs and 10-k it appeared that the $525 aggregate was solely for license fees and regulatory milestones. ADDITIONAL payments would infer payments beyond the $525 for any potential sales milestones.

As for the PV calcs, obviously approval is quite a few years out there and with PJ's DCF model using 35% is a bit extreme for mainly mild and moderate GI side effects.

Your thoughts?

Of the $525M cumulative amount for the HCV program, IDIX received $25M on March 29 when NVS exercised its option to license NM283, and IDIX will receive another $45M when NM283 enters phase-3 trials in the U.S. late this year or early in 2007. The remaining $455M is based on unspecified regulatory and sales milestones.