We expect milestones to be due upon approval from partner Chiesi; however, these amounts have not been disclosed.
We update our valuation to reflect the approval of Elfabrio, increasing our probability of success to 100%. Along with sharecount modifications, this generates a price target of $16.00 per share, a greater than 5x upside from the latest closing price.
We are looking forward to an investor day in June that will identify the pathway forward for development candidates and we hope provide an early look at Chiesi’s early commercialization efforts. We are interested to see how the relationship with Chiesi will evolve and how new in-development candidates PRX-115 and PRX-119 will advance.