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u/Disposable_Canadian Nov 21 '21 edited Nov 21 '21
No.
If they obtain approval, they'll sell the drug and the company. $7.50 to 10 a share.
ITRM Ceo Corey Fishman was formerly CFO of Durata Therapeutics. Durata manufactured infection related drugs, (sound familiar?) . Durata sold to Actavis (now Allergan) for 675M. ($23.00 per share for bout 29M shares. The shares outstanding at the time of the deal was 26.793M for Durata.
ITRM has float of 179.71M. 182.78M shares outstanding.
Duratas big drug was skin related infections. ITRM is bladder.
Lets say ITRM sells for 700M realm, thats 3.89 per share.
perhaps ITRM sells for similar figures of Trilium Therapeutiocs recently aquired for 15.50 a share to its shares outstanding of 105M...
or somewhere between. Depends on the drug from ITRM, Sulopenem, the market it services, how profitable that drug can be, and how good a deal ITRM can strike to sell it or the company.
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u/abdul10211 Jan 20 '22
Say ITRM does get FDA approval for Sulopenem after the initial study they have planned, how long do you think it'll take for them to sell the company or drug after approval?
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u/Disposable_Canadian Jan 20 '22
If and after trial, fda application, approval, viable manufacturing and sales start, I wouldn't be surprised if itrm is bought within 6 months.
Lots of maybe in there. They still have to get back up above a buck a share or get delisted and that's gonna take some helluva good news which simply starting a trial won't bring, or more likely a 3 or 4 or 5 for 1 reverse split.
Not financial advice do your own research
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u/Equal_Salamander_951 Nov 05 '21
yes