RE:RE:What a day Great post Rev !
I too am nibbling where I can in this range.
Devilishly difficult to get anything in any quantity.
I too believe that with 2.5 FDA approavls under their belt (EAA, SAMI, and partial on DIMI) that there is little to no risk in buying down here. They've spend > $ 100M in Trial costs to get to this stage over 20 years. Normally it takes expenditures of > $ 1B to reach approval on drugs and devices, especially ones that have far reaching capabilities and the ability to save many thousands of lives. To ascertain probility of succes on the 1.5 reminaing, you need only look to at addtional real world evidencs (see various Meta-analyses, Euphas2, 300,000+ safe uses, growing EDEN database, etc.)
Would the large insider owners dream of giving away 2.5 FDA approvals, with 1.5 more in the works, (while sitting within field goal range), ALL for under $ 100M (the current MC)? Not a chance, IMO! Also any acquirer would get the additional benefit of tax carryforwards to reduce future taxes (even if you thought that anyone would absurdly give up on 4 FDA approvals in the 11th hour, for a song).
IMO, this is easily a $ 1 B + package of products, that just needs several more months to cook to perfection.
MM