Biotech Values

[piggerpig]

The Xoma secondary terms looks pretty good to - warrants at about 60% higher for only two years. Looks like the market is pricing the warrants at 40-45 cents. Could have been much worse.
You can read from it that there are well educated investors willing to bet
Xoma is 60% higher in at most two years (although they maybe have already shorted the stock and gotten the warrants for free...