CPRA
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What do you think of this: Hansa Bipharma. (HSNA-ST) I don't think it has an american listing yet tho. The big deciding factor is well first the approval but secondly the label/indication. But there's not much financing risk as they sold the rights for the European market for a stamp fee. The product is for desentization of kidney transplants. Which essentially would allow anyone to give a kidney to anyone, as the immune systems IG antibodies are cleaved for a window of 7 days, making a transplant possible that wasn't before - and essentially making everyone a match to everyone. It has potential for substantial offlabel use - in people who want to save their loved ones by donating one of their kidneys, no matter the cost. Additionally, there are a lot of people with inherent immunizations towards other individuals. This is measured by levels of CPRA, such as "CPRA >99,9%" or "CPRA >98%". Meaning you will match less than 99,9% of people or less than 98% of people. So with the subset of already very limited kidneys - it's essentially impossible to find a donor for you, unless you get a desensitization before the transplant. SoC is not very good at this compared to Imlfidase. The market opportunity if the indication is 99,9% is 200-400 mUSD annual sales, but if they get for a broader population (98%) it could be upwards of 2 billion dollars + what ever off-label of people who just want to save their parents/kids and give them one of their two kidneys. The current market value is 400 mUSD, which I think is a steal.