Not following your math. First of all $500M upfront is not modest but let's roll with it.
500M less 21% tax (not counting Mass tax) = ~$400M
$400M/170M shares = $2.35/share
So you're going to give a $3-4 special dividend AND fund multiple drug platforms using a modest $2.35/share? You're good.
Go IPIX!
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All my posts are my own personal opinion and speculation. They should not be used as the basis for any investment decision. No, I am not Scottsmith.