Biotech Values

[exwannabe]

Re: MNTAs cash flow based on reimbursement liability

The quote from Wheeler was that it would be paid off in 3 Qs if not earlier. I assume that this means before the end of Q1 '11, and maybe before the end of the year.

That would put end of Jan '11 as CW's best guess. That is just 6 months of sales.

Thus, I would go with $240M for the run rate for '11, subject to the rest of your argument that I agree with.