RE: amorakBut that's the whole point, large, NexVas may have only a slight chance of failure in Phase I and that will be known by the players. If so, then the price after Phase I could not be larger than the price before Phase I by a factor of 5 to 10, no way. The risk factors don't suggest that at all, not as we know them, at least. Phase II for sure, but not Phase I.
DM has placed a value of $60 on the science and has stated that there is very slight risk to Phase I. That suggests not a great premium on RVX for successful Phase I, some, but not $500. Maybe $100 or more, which isn't bad. But then, maybe the Phase I results could be better than anticipated. Who knows, 150 in the shade, maybe...