Portage just did a spinout of their dry eye drug into a separate o[pthamlic compnay.
They own wholly own PPL and partly own Sentinen and have a stake in a compnay called Biohaven in qhich they owned almost 48 percent which also owns part of another compnay that has pioneering drug work of a doctor from Yale.
I understand previously prior to theri latest round of funding of $80M Biohaven was valued at about $ 130 M because they have two phase 3 drugs that they were initiating.
As a result the the $ 80M funding whose sponsors wes Pfizer and Bristol Myers Squibb and Venrock( Rockefeller venture fim) .I think their equity interest un Biohaven mayhave dropped in an equity share in the 30 percent range.
DIfficult say what Biohaven is valued at now since this funding but probably over $130M
Forty eight percent ownership of Biohaven of $130 M translates into approximately $62.4M
If after the $ 80M funding Biohaven is valued at $ 200M they own 35 perecent equity this would equal $70M
When you compare the sum of the parts of this company it is not apparent that at $.13 per share and the stocks market cap of $32.9M
Question is how wil and when will this value be realized by Mr Market?
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