Bill, from a SI post: "AVII on Barrons' this weekend - Target 11 by Rodman & Renshaw
AVII announced a license agreement with Cook Group for the co-development and commercialization of NeuGene-based antisense products (e.g., Resten-NG/-MP) for vascular diseases. Cook will (1) fund all the future development and regulatory costs in the U.S./Europe for up to $100 million; (2) purchase $5 million of AVII common stock at a premium; (3) pay AVII double-digit royalties based on WW [worldwide] product sales in the future; and (4) pay AVII commercialization milestone payments. As the world's largest privately-held medical-device company, Cook has the necessary size, experience, intellectual-property status and financial capability to expeditiously move AVII's vascular-disease programs forward. If approved, we believe Cook has the optimal commercial and manufacturing infrastructure to support rapid adoption and uptake of NeuGene-based products in the medical-device market.
This partnership with Cook is an economically-favorable deal to AVII, due to (1) a double-digit royalty rate; (2) the potential for commercialization milestones; and (3) the cost-savings from reduced R&D and manufacturing expenses associated with the ongoing and future development of the vascular-disease program. Based on the details of the partnership, we are modifying our model to reflect lower commercialization milestone payments and slightly higher royalty payments. While the timelines for the vascular disease program and eventual market launch remain unchanged, we have delayed a potential Hepatitis C partnership by one year. Reiterating Market Outperform/Speculative Risk rating and our 12-month target price of 11.
by Rodman & Renshaw" ...if you or someone can confirm this in Barron's this weekend it may just run up nicely Monday! I'm still in AVII but at a loss as of now...have a super weekend! tuna
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