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fbg0316

06/14/17 2:42 PM

#22946 RE: JB-22 #22941

JB, in the defense of management in the Bristol collaboration, if you look across the industry these days most of the combo pairing trials are like ours with Bristol and Merck in that the deals are cashless in which the BP and smaller company share the costs then observe the initial trial data before any potential money deal. I think it's reflective of how competitive immunotherapy has become. It's the monotherapy development deal that command of dollars and money upfront. That is a big reason ADRO early o. secures deals woth JNJ on prostate and lung values at 1.1 billion total big upfront payment. It's u fortunate Dan wasn't able to set us up in that way - his version was do do several weak regional not worth much with nothing upfront. Now he's onto cashless combo collaborations, keep kicking the can down the road so he can collect a high salary and get non performance share grants. Why not when you have a rubber stamp BOD and no CEO accountability.