True, but I think at this point, they are betting that getting the approvals and reimbursements in place, and getting scripts flowing (unencumbered by profit split), puts them in a better position for a sale to a BP.
If they partner with selling agents in EU now (ie. HLS/Pfizer), there is very little "profit" left to sell, unless they sell to whoever the selling agent is (for example if PFE or AZ sold for them in EU).
Basically, I think KM was pretty much backed into a a corner in terms of the current strategy.
I don't think partnering was ever a good idea in EU or USA. Selling the company to a BP was the move. But since Thero screwed the pooch on that, we really need to see the GIA strategy through to a sale.
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