Aug. 10 at 7:31 PM
$LRMR I wouldn't be surprised to see a partner emerge. As we get closer to revenue every month, this story is getting far too compelling for BP to ignore. A partner could easily drop
$200M for ex-US rights in the UK, Japan, or Europe, with the ultimate goal of owning the entire drug upon approval.
In the short term, I think the Reata deal sets a high floor against a lowball offer. Biogen's
$7.3B price tag for Reata set a clear bar, making a
$3B offer fall well short. Nomlab is shaping up to be superior to Skyclarys, so it should command a similar valuation, if not a premium, down the road.
We are also fortunate to have Deerfield and Tom Hamilton as key investors. Both bring serious Wall Street acumen and scientific backing, and both will fight for maximum shareholder value if a BO happens. Thomas Hamilton is fully invested for the most important reason imaginable: his daughter's health. It is extremely rare for a baby bio to have this level of advocacy and institutional power behind it.
