Biotech Values

[tinkershaw]

Craig Wheeler stated on multiple occasions that he was frustrated by M118 partnering negotiations

That was my distinct opinion as well when I heard CW discussing the issue. M118 is a very expensive product to bring forward, and it will be brought forward in a very competitive environment, including the arrival of what appear to be very good and competitive oral coagulants that may or may not at some point move in to M118s intended indication(s).

M118 is going to take what, 3-5 years from here to get to market if all goes well. 3-5 years is a long time for an oral agent to attempt to expand its indications and maybe gain traction.

This may never happen, but given the uncertainty, it may be difficult to get a partner to put up hundreds of million to bring this to a market that may look radically different in 5 years.

I do not know what this means in regard to MNTA gaining a war chest, but I think their negotiating position has been materially lessened by recent developments. Not as the market stands now, but as many perceive it might look like in 5 years. And that is when M118 is expected to provide return to a very expensive investment. And all this, ironically, in competition with a much cheaper generic lovenox as well (yes, I understand M118 provides qualities that will distinguish it, but cheap generic competition does not help)

So what is MNTA going to do with M118. Take on more of the financing itself? Partner on lessor terms than it envisioned even a year ago? Sell the rights outright to monetize it?

Does anyone think that M118s potential has not been harmed, at least potentially, by the recent success of the oral agents, given that with M118 one has to look out 5 years to start to get a return on an M118 investment?

Tinker