Biotech Values

[DewDiligence]

From ONVO’s PR:

https://www.globenewswire.com/news-release/2025/02/25/3032003/37000/en/Organovo-s-FXR-Program-including-FXR314-to-Be-Acquired-by-Eli-Lilly-and-Company.html

Under this transaction, Organovo will receive an upfront payment as well as milestones to be paid as FXR314 achieves key regulatory and commercial milestones.

For a publicly traded company, when the up-front amount isn’t specified it’s reasonable to infer that it’s small, probably $10M or less.

The standout question: Why didn't LLY simply acquire the whole company?