EB: Rathoff has quite a few shares that he bought at open market prices, and he is underwater. He obviously did not think AXYX could survive on its own and sought the best solution he could come up with. It might take a little time, but I think this could be a profitable trade if you have a 1-2 years time horizon. I still think Posiphen has potential. Phenserine might have some potential, perhaps in combination with a drug to enhance cognitive abilities, such as those being worked on by Cortex (COR). In the meantime Torrey Pines has a migraine drug in later stage testing. They were cash poor, AXYX was progress challenged. AXYX wanted some bigPharma to partner with them and carry the financial load for further trials. That didn't come about. This deal was the best they could do. The stock has rebounded from its lows and is right back in the range it was in before the merger announcement. I have been disappointed in my AXYX investment so far, but I own several small fry biotechs to spread my risk. So I don't fret about it. I will hold and see where the merged company goes. We could be in for a surprise on the upside.
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