""Selling Etrasimod for $6 billion just doesn't excite me very much if we are talking about a drug possibly marketable for multiple indications."""
To be clear here I would want Etrasimod sold for a fair price so what that number would be is possibly much higher if the interest is high and I would think it would be due to so many possible indications.
A worth for the new company would be anyone's guess but clearly it would have a lot of value. Lets not forget that under my designed approach they would also own the potential of the Ralinepag deal that seems to be advancing nicely and if the sale of Etrasimod would happen at the end of this year this new entity would still have over $800 million in the bank. Seems to me that this new entity as I describe it would be capable of trading at numbers around 50 at the beginning.
So if someone wanted to pay me a number between $120-150 or more for Etrasimod and I would still own a company worth perhaps $50 I would be glad for that opportunity. If I didn't want this new company I could simply sell it in the open market and move_on..