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Battle Ready

11/13/22 7:04 PM

#20563 RE: Theburg #20562

Theburg, I merely chose simple numbers to illustrate my point. Frankly, even considering our relatively VERY LOW fully diluted number of shares, my examples are quite conservative considering that we could have better data than Biogen whose partnered drug generated a $20 billion market reaction...

$200 per share would ONLY be approximately a $2.5 billion market value. Any future success estimation must include fully diluted shares as that would instantly become reality. Current shares are more relevant for downside valuation and we have approximately $4 per share in cash right now...

Given some of the management comments, I believe the most likely scenario is a big pharma partnership. They prefer to bet on sure things as far as proven data and don't mind paying a premium to do so... I would bet that our management has turned down lesser partnership offers, because they are confident and are betting on success here...

Would it be good or bad if a big pharma comes in at 50% for $1 billion??? All of us would make a ton of money and the company would be well funded for any levels of future trials, marketing and distribution...