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Biotech / Medical : Immunomedics (IMMU) - moderated -- Ignore unavailable to you. Want to Upgrade?

To: Olecranon who wrote (62876)	11/1/2024 10:01:32 AM
From: erickerickson	Respond to of 63324

As far as GLUE is concerned, this seems like a long-term play at this point since it'll take a while for anything to really show up on the balance sheet after the initial payment. $2.1B in milestone payments sounds great, especially for a company with a a $500M market cap. Given our experience with IMMU, though, I expect most of that money will be weighted to later points, which take a while. Don't get me wrong, it's quite encouraging. Especially since their market cap is up by close to 50% from it's pre-deal mark. Hmmm, though. At least one milestone looks like it hits when the PII starts, although I don't expect that to be as big as the initial payment. That's an evidence-free opinion though... They're burning through $30M/Q, with $350M in the bank (including the $150M up-front), so that's a runway of 7 quarters at most. Less given I expect their costs to increase given they "will co-fund any Phase 3 clinical development". But that's a while from now I expect. None of that's a negative IMO, just saying I don't expect major influx of cash in the near future. I mean they just had one ;)