Judging by the volume the street is disappointed. Deal does not change GTCB financial course IMO, only delays it by a qtr or two. Only hope is a buyout IMO. I guess at this point, this is better than nothing.
Dew, is your disappointment limited to the amount to be received in 2008? I note the funding of clinical expenses vis. AD ind and bearing of all sales and marketing expense as well as the royalties that I assume are above and beyond the OA scope of this deal.
Although the fit between the companies looks good, the scant $5M in deal payments that GTC expects in 2008 is disappointing, IMO.
If it gives them enough to limp to the milestone payments they are due from Merrimack on DIC then the deal is fine... they only need just enough to limp into profitability. What did GTC give up in the deal?
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