my post is not designed to say we will get a 4.5x increase, I am saying that we will see pps appreciation after the Regulatory/Commercialization agreement. Titan's platform will address a much larger market then Mazor.
BUT if you want to apply the 4.5x increase (which is just for fun and really not applicable) then upon completion of Milestone 4, Titan PPS will be trading in the range of $5-8 share by October, then an agreement is put in place, the PPS would immediately jump to $16-18 and over the life of the agreement, a 4.5x final buyout would be $72-81 pps
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