I’d love to say the value of ngio should currently be $300mm, but that whole analysis by Tom B was flawed. Antigen does not have a partnership with Merck on similar footing or equivalent to the one ImmuneDesign had with them. Gnbt hopes success in this proof of concept leads to a true partnership. Merck has countless collaborations where Keytruda is being studied in combo with the other biotech, pharma or academia ‘s product. Looks at Sellas, once Galena, and their Galinpepimut-S (GPS) It’s being looked at with Keytruda in triple neg as well. Their market cap is $28 mil. ImmuneDesign had multiple true partnerships. We need Antigen, ngio, to get there. And the Gnbt Korea deal has been dormant for years. If they’re going topoint to that then let’s see a patient finally recruited over there. I’ll estimate $50-75 mil depending on measurable progress.

https://www.sellaslifesciences.com/investors/...fault.aspx