"AS is a fairly insignificant player in the pharma space. The 35th largest pharma company by revenue is IQVIA (I bet you never heard of them...I haven't either) with $11.36B in 2020. AlfaSigma earned about $1.25B - about 11% of that. It's a bottom fishing company that can't afford real pipeline candidates so it takes chances on the dregs with cutthroat offers like we got.
If you figure B-UP is worth an average of $100M/year for 10 years ($1B total) and we get:
$420K
$6M in regulatory milestones (2024-2026)
$18M in sales milestones (2027-2030)
2% royalty ($2M/year = $20M over 10 years)
That's a total of $44.42M out of $1B or 4.442% of the entire pie.
If B-UP ends up averaging $200M/year or $2B over 10 years we get $64.42M or 3.221% the pie.
"Thanks for the phase 2 drug. We'll run the trials and give you 4.5% for it."
It's rare to find a deal this bad even in preclinical drug deals or in ones that failed a trial. In fact, go ahead and try to find me one...I can't find a "successful" phase 2 candidate that has garnered terms this bad.
I don't think receiving a few $1M payments between now and 2025 is really going to boost the stock. We will sink or swim with B-COVID, B-OM, and B-UC by then. Or we'll be over a billion shares outstanding and $1M will be $0.001 EPS."
It appears as though this company(one person) is looked upon as a farce-based on history(and stock charts), and present non developments, by many(bp, wall st, and many sh's opinion).
He's all talk, no action. Can't even pick up the phone...no one does because no one is there evidently.
This company cares not for common shareholders, only for themselves(himself).
Perhaps that's why Jorgenson left years ago(he worked with DeGrado at UPENN ...didn't he? Part of B development,).
The cfo seems quite able at burning bridges, but has no knowledge in building them.
Like some others, waiting for low teens...maybe.
