Does 35M a year seem expensive on $125M now? Not if you think Factor D is the big mamma jamma. Why? Because the alternative to getting that money right now, today, was diluting 12% at closing price of Friday's closing price. Now, you gotta go further. If you expect your entire pipeline to one day bring in say 2bn in revenue and you dilute 12% at 125M just to get that money now? In a couple years, you ended up paying $240M for $125M now. You see? This move is putting a BIGGER bet on the future of the company. They are saying 35M peak royalties off Orladeyo IS LESS to give up than 12% of our company based on future revenue.
That's a MASSIVE bullish bet on the future of this company. They know where it's going.
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