KemPharm Inc. (KMPH)

[dia76ca]

KemPharm has an extended runway into 2021. Here are 10 important points to consider.
1. They have cut their expenses to $1 million a quarter. With no new milestones they have more than enough cash into 2Q 2021 IMO.
2. Yes they have some $70 million in debt but with KVK they have $53 million in milestones and with GPC another $483 million in milestones. With $536 million in milestones that debt could disappear very quickly!
3. GPC can file the KP415 NDA any day now.
4. Apadaz sales started last November. KemPharm gets 30-50% of net profits.
5. GPC could file a KP484 IND at any time.
6. GPC also have options on KP879(SUD) and KP922 (amphetamine prodrug).
7. Deerfield have options on two prodrugs.
8. There are several more undisclosed partnerships which could enter the clinic this year.
9. Tax loss selling drove the share price down to the current silly levels. Once the share price is over $1 it should move up quickly.
10. KVK or GPC could easily take a partnership interest, or buyout the company...as could Takeda or other future competitors.