Oppy, do you really think that management develops the products that are in trial, or approaching trials. As I see it, success in trials is the key to success, and I believe that management has built a team of scientists that have trials approaching approval.
Managements job is to put together the team and see to it they have the funds needed to do their jobs. I believe they're doing that and it won't be that long before we see success in the clinic. I would hope that management is also working on partnerships, but I recognize that they want the partnerships on terms that investors agree with. I believe that the closer we are to approval, the more we can ask for our products, as long as they continue to demonstrate they're worthy of approval. At some point a potential partner will make an offer worthy of consideration, and then we'll have a deal. My only concern is that we maintain full ownership for at least the U.S. I don't care how much money they bring in, if they totally monetize another product, as they did Kadcyla, I'd view the partnership as a failure as the billions we could be earning in the future wouldn't be happening regardless of how many billions they pay upfront.
Let me be clear, I believe that IMGN853 should bring in billions up front in a ROW partnership that would still include royalties with a percentage in the teens. Owning the drug sales for the U.S. alone, or all of North America can in time lead to continued earnings in billions. That's the sort of thing we need to meet and ultimately exceed SGEN's market cap.
Gary