They are not paying for any development costs related to CDX-110. The market value of this company makes no sense.
Assuming they receive FDA approval of their brain cancer vaccine, they will receive $390 million in milestone payments as well as double digit royalties. Yet the market capitalization is only $170 million. Could anyone explain why investors are discounting the stock so much?
It is apparent that it works in all trials. Some patients even survived as long as 6 years!
Does anyone know the break-up of when we receive milestone payments? Is the full $390 upon FDA approval, or are some related to Phase II, Phase III completion?