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Biotech / Medical : Aronex Pharma (ARNX)
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To: Tara Cobble who wrote (12)4/9/1997 2:12:00 AM
From: Lance P. Dykhoff   of 320
 
Tara

** If Genzyme exercises its option, Aronex will receive cash payments of $5.0 million, $2.0 million of which have already been paid. Aronex will also receive royalties on sales and equal co-promotion rights in the United States. If Genzyme does not exercise its option, Aronex will reacquire worldwide rights by paying Genzyme $2.0 million in cash and capped royalty payments on product sales.**

I don't see this as a negative, if Genzyme exercises it's rights, Aronex ends up with cash for other projects. My only question is how long the royalties are good for, in the mean time they will also generate cash. "CASH IS KING". If Genzyme does not exercise the option, Aronex receives all the rights. If the drug is accepted by the FDA, 2.0 million seems like a great price. Am I missing something here.

Regards
Lance
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