Since the 10K says ITMN191 royalties due to ARRY, specifically, are “low single-digit” and the CC comment was that ITMN191 royalties due to third parties in general are “mid single-digit,”
OK I say Uncle. I listened again and took notes they word 3rd party royalties in the plural don't say Array and it is "mid single digits" according to that call. Also, rkrw on SI (sorry I don't have search here to know if on this board too) reminded me about everyone owing Chiron royalties. I had only vague memory of hearing that before (plus I actually am not too familiar with them to have known PI's are covered).
Anyone know what the Chiron royalties are thought to be and what specifically they cover? (Not to say ITMN may not have even others besides Array+Chiron).
FYI, went back on some (recent) Array calls and they describe their 3rd party royalties (in general not just InterMune) as around 3%. They did say going forward are seeking to get high single digits and it sounded like the 2nd target with InterMune falls in that category. I got the impression since its described as a second target this is NOT under the Roche deal. If not clarified soon I'll try contacting IR.
Array actually sounds like a pretty interesting company (if there royalties do get better) and I could get it back in the six range but a shelf for half their market cap doesn't entice me to look at it further at this point. It seems to me a lot of Biotechs are having very large shelfs (as a percent of market cap) lately.
