So that's ~63M "upfront" for a P3 ready drug that, by sales milestones, has a potential annual market of 500M to 1B+ within ten years of commercial sales commencing.
It's got a FDA Breakthrough Therapy Designation, and no current approved treatments.
So no, it's not a direct comp to anyone's favorite stock but it is interesting to see what a novel product with potential blockbuster status (clearly 500M+ if not) is worth. The "upfront" does reflect clinical and regulatory risk but the milestones are pure sales and have to be discounted for time with the first milestone at least 4 years out. [/OT musing]
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