I'm viewing this relationship as a large pharma and a small biotech.
As impressive as our Phase I trial results have been, at the end of the day it is still only a Phase I.
T/O with just Phase I results would be seen as highly risky from a large pharma.
Large pharma's don't usually become interested in T/O of small biotech's until deep into Phase II trials or may even wait it out to see the final results.
That' why I proposed the above scenario.
However certainly won't complain with a $5 T/O.
Happy either way.
I'm viewing this relationship as a large pharma and a small...
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