Teva will make a $40 million upfront payment to Alexza. Moreover, the company may pay up to $195 million on the achievement of milestones like the successful completion of post-approval studies and the achievement of net sales targets. Alexza will also be entitled to receive tiered royalties on net commercial sales of Adasuve.
Additionally, Alexza may borrow up to $25 million from Teva through a five-year convertible note and an agreement to lend. These funds will be available to Alexza for Adasuve-related activities.
Adasuve gained US approval in Dec 2012 and EU approval in Feb 2013. While Teva will be Alexza’s commercial partner in the US, Grupo Ferrer Internacional, S.A. is partnering Alexza in Europe, Latin America, Russia and the Commonwealth of Independent States countries.
That was my thought. Maybe they wouldn't sell? What is the value of the pipeline and technology patents? Could it be more than we think? Well in any case Market cap of 80 mil is pathetically low and this has to rise. It is an economic law.