There are many instances where a pharmaceutical company has taken over, or partnered, on the basis of initial evidence even at the preclinical stage. Have a quick read of fiercebiotech. You could say that Viralytics Cavatak wasn’t really proven but still had a good TO premium.
But I hope that IMU doesn’t go down that route, there’s much more potential value in longer term licensing as and when there’s proper evidence of efficacy.
There are many instances where a pharmaceutical company has...
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