Red,
Unless I learn otherwise it's my intent to hold the GNVC stock and have it convert to XON, as I believe it's the holders in the end who'll benefit from any Novartis payment. If the hearing drug works, 36 months should certainly see the milestone for the Phase 2B Trial, but if it's truly working, approval might be the goal for that 2B Trial, and it's a possibility. As I see it, the stock is currently trading with no premium for this possible future gain, to me, it should be worth something over the .297 of XON conversion.
I want to learn more about XON, but in that I still believe that GNVC's technology is of value, if XON has the ability to finance it's products in development, this could be a long term hold worth considering. Having recently had an RSV infection, I know a vaccine that prevents it should be a big seller, likewise malaria. Perhaps XON has the resources to bring one or more of these into clinical trials, rather than GNVC simply talking about them.
Gary
