EMIS has a lot of warrants O/S and gave up good portion of what royalty they had, if I remember correctly.
Yeah I know they gave up part of their royalty awhile back in exchange for a cash payment. I don't think they have disclosed what royalty they are due now. Perhaps mid single-digit at best? Would be interesting to know fully-diluted market cap but this is clearly a wild boom-or-bust gamble, particularly when you add in the fact that they are in poor financial shape. Probably too speculative even for my tastes but just found it interesting that NVO has at least pushed into Phase 2.
Separately, another company to keep an eye on, though similarly boom-or-bust, is Merrion as NVO is working on an oral insulin in Phase 1 using their technology (http://www.merrionpharma.com ). Pretty sure they don't have much going on, other than this project, and are also in poor financial shape.
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