The current price in the $8.00 range seems like a good entry point.
I expect the p.r. stating that the companies have appealed the FDA's decision should happen the first part of the week. Depending on the wording on the p.r. a bounce to the $11.00-$12.00 rangeis likely.
Looking at cash and assets only, $5 a share. Now consider NDA approval in Japan for Xp13512 (NDA submitted), other candidates in progress, including Phase 2B for GERD and phase 1 for Parkinson’s disease.
There is a good reason the pps stopped in the $6.50 range, the market priced in no FDA approval. Now add in potential review and acceptance, either revised NDA to include warning label, 600 mg dose only or complete reconsideration of the preclinical signal in a rat and your upside is minimum $20 pps.
FDA has a history of reversing decisions:
http://www.google.com/search?hl=en&source=hp&q=fda+reverses&aq=f&aqi=&aql=&oq=