Apr. 11 at 4:36 PM
$FBIO In ROTH's previous analysis, they value Fortress' ownership as follows:
Avenue -
$ATXI:
$0M
Checkpoint -
$CKPT:
$9M
Mustang -
$MBIO:
$3M
Total:
$12M
If Checkpoint's buyout just goes through, we can value that part to at least
$28M right away without even factoring in a single possible CVR or FBIO earning a single $ on the 2.5% in royalties from Checkpoint's portfolio/pipeline.
As I've mentioned in previous posts, there is value in Mustang and Avenue if you're just going to base it on the study results they've achieved to date, but, due to various circumstances, I think it's safest to write these values down to
$0 for now.
New minimum total:
$28M
That's more than twice as high as when ROTH set a PT of
$13 for all of Fortress.
