keep_trying, I hear what you say but there may be a discrepancy between what Peregrine, the other share holders and a BP wants.
Of course your developed approach keeps BPs competing over time but they know that too. And as i developed in my post there is another kind of competition that they will want to avoid and that is the one related to the Bavi dose pricing. As Thurly wrote in one of his posts: "charge as much as you can as long as you can for a new drug.". It may not have been those exact words but it is what BPs do. The basic condition to do that successfully is that nobody eats from your pie.
With Bavi the best way to control that is to own the pie factory directly or via licensing and globally. Then if someone eats from it it has been paid for.
In other words, if BPs recognize the value of Bavi they will go after the platform or if needed the company, optionally the first one with a good option on the second one (so that nobody acquires the company that gives them the license.
We know it is really no problem for them. They have the pocket depth and we have the poison pill to make sure they pass via the cash register and don't use the stock as a weapon against us.
Synthesized: As things develop currently I am all for Bavi world wide, all conditions, licensing with lic (pre-payment, payment per new condition and payment based on yearly sales) and a first right 3rd party manufacturing for Avid with a minimum yearly quantity.
This gives us direct revenue, long term revenue, production income and we share in the volume success. Our incentives are R&D for CT of new conditions resulting in extra payments and extra sales volume. Further more such contract can extend our 17-20 year IP protection. Possibly we can keep Digital Imaging out of the loop, that is clearly another market. BPs will not see it that way.
The solution you developped is even better then the above but I don't see our BoD pull this off, not even if they get more experienced extra members, just because the BPs may not want such approach. I would like to be wrong on this one.