The drug does $850 million in sales in Japan. PHAT owns US rights to the same drug. It was just approved today. The drug is a better version of Nexium. There has not been an innovation in the treatment area since 1989 when Nexium came out. The US market is 3x the Japanese market so $2 billion in sales should be reasonable.
The company has $250 million in cash so there might be a small equity raise but there is no need. The company has the money to start marketing.
I do not believe PHAT will be an independent company for long.
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