Designating the $30M as R&D reimbursement is a transparent attempt to circumvent the ISIS pass-through. This is the second or third time I’ve seen such a maneuver in a biotech license; I doubt it could stand up to legal challenge, but Teva and OGXI may figure the amount is too small for ISIS to bothering suing.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”