RE:RE:PartnershipBlartar. partnership happen in pre clinical, phase 1,2,3 or post approval. If every pharma only partnered once FDA approval was in place they would go broke. Endo partnered with us with only phase 2 in hand and gave us 38mm up front with 100mm in milestones. The risk to a pharma is only the up front money. 20mm is pocket change for a big. They only shell out the bigs buck once they are sure revenue is forthcoming. Why shell out a billion in 12 months, when they can hedge and pay only 20 or 30mm.