pphmtoolong, in traditional BP vs small cap terms you would be completely correct.
But this is different. Here Bavituximab is the key to SOC for the BPs that otherwise compete against each other with the same type of molecules for the same conditions (cancers). Mainly PD-1/PD-L1 and CTLA-4.
And so Bavituximab does not hold something that one wants to buy/acquire but something ONLY one is going to be able to do while the other will bite in the sand.
This means that DIFFERENTLY then for instance GILD buying a company that would have a PD/CTLA molecule allowing GILD to enter the race with a "ME ALSO" and of which the OTHER BP COULDN'T CARE LESS in this case they MUST CARE! Why, because if Bavituximab makes Durvalumab the SOC in a combo then it impact THEIR PAST investments and current market positions.
And THAT is the big difference, that is why PPHM stays empowered and with unencumbered IP and pipelines can negotiate exactly in the same way as BEFORE they stopped SUNRISE. They just cannot go it alone any more because to do that in I-O (vs chemo) they do not have the means. So there approach of adding many small trials will line up the COMBO candidates for combo's in many cancers and they will sign MANY money deals.
And Bavituximab is not a drug pipeline that is new and needs the PI again. See clinicaltrials.gov, with a direct PII trial with Durvalumab of AstraZeneca.
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