If I were Roche...
I think I would move on a deal sooner than later. Assuming that 4050 plus pirfenidone is the most effective combo to treat IPF, any delay on Roche's part could open the door to competitors. Also, if Roche delays until after Phase 2/3 results are in, the amount it will have to pay to get 4050 for IPF application would grow by leaps and bounds. Best to pay a handome licencing now with packed future milestone payments in order to secure a leadership position and protect its $8.2Billion investment. Moving quickly would mean that Roche would also have a say in the design of the upcoming Phase 2/3 trials expected to start sometime in Q2. Hang onto your hats:-)