Innovation Pharmaceuticals Inc (IPIX)

[Lemoncat]

I know that Leo can be depended on to hold out for something at least close to full value.

I agree. That's why I try to extrapolate from our existing partnership data point. Since we know Leo can be depended on to hold out for something at least close to full value, then I assume you feel the B-UP deal was close to full value.

For a durable $100M/year indication (Ulcerative Proctitis has a fairly stable number of cases per year and likely will for the duration of the patent) Leo accepted the following terms:

$420K upfront
$6M regulatory milestones
$18M sales milestones
2-6% royalty depending on formulation

So pick your revenue number and scale it from there. What is COVID worth? $200M/year? For how many years with the vaccines pouring onto the market before we even enter clinical trials?

What is your projected annual revenue for a COVID therapeutic?

Go IPIX!