Obviously, I think we are undervalued at $13.50-15.50 per share. I know the argument for that share price is that the drug is not FDA approved yet. But I think that means the $2 milestone payments should have been more generous. Sure, Cubist is taking a chance buying out the company ahead of any FDA approval, so that could explain the $13.50. But they clearly think the drug will be approved and will likely live up to its potential, so they should have made bigger milestone payments. Plus, Cubist gets TSRX's other drugs in the pipeline.
It'll be interesting to see where this goes.
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