The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Thought this one might reverse up a bit today or next few days
https://www.ft.com/content/c3da84fd-efe2-4487-accb-511a8104ee3e
I didn't realise that RC is 90 this year. He must want to get gold dug up in the very near future I'd think.....
Interesting for sure
another stitch up PI company by Gabriele Cerrone
Not new news but gets rid of that 'Painful' heading which often has postive news under it!
PureTech Health (LSE:PRTC, NASDAQ:PRTC, OTC:PTCHF) PLC announced a lucrative royalty deal with Royalty Pharma for its KarXT drug, developed by Karuna Therapeutics.
In response, Liberum, the corporate broker, has increased its target price for PureTech Health (LSE:PRTC, NASDAQ:PRTC, OTC:PTCHF) from 420p to 470p, reiterating its 'buy' recommendation.
The royalty deal, worth up to $500 million, involves PureTech Health selling the majority of its 3% sales royalty right in KarXT, with $100 million paid upfront and the remainder upon achieving regulatory and commercial milestones.
PureTech has sold its entire 3% royalty on sales up to $2 billion but retained a 2% royalty interest for sales over $2 billion. The company's 3.1% equity holding in Karuna Therapeutics remains unchanged.
According to Liberum, the KarXT royalty deal adds 62p to PureTech's valuation. However, the net result is an increase of 50p in the target price, after updating the pricing of PureTech's listed entities.
KarXT, developed by Karuna Therapeutics, is on track for FDA approval in mid-2024 as a first-in-class treatment for schizophrenia. The drug has shown promising results in two successful Phase III trials. Peak sales for KarXT are projected to reach around $2.5 billion, with PureTech potentially eligible for royalties on sales above $2 billion.
The upward adjustment of PureTech Health's target price indicates a positive outlook for the company, bolstered by the KarXT royalty deal's potential to generate significant revenue in the coming years.
https://www.proactiveinvestors.co.uk/companies/news/1010056/puretech-health-remains-undervalued-after-karxct-deal-says-broker-1010056.html
Waiting for next leg up here...