The Company is a pharmaceutical Company developing therapies for the treatment of chronic diseases and conditions with its proprietary drug formulations and delivery platform technologies.
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A small company that develops proprietary drug delivery technologies for their drug development partners. Remember Alza? These guys are a mini-Alza (and they have several ex-Alza guys on the team.) The upside won't be as strong as owning the drug company directly, but this should be a nice portfolio of royalties from several different drug products. I've traded this between this level and $7 a couple times over the years.