Antares Pharma, Inc. (ATRS)

[Birdstone]

I agree with andre, you have to be expecting another secondary here. As the saying goes, fool me once, fool me twice... well, this would be fooled thrice.

As far as a buyout, there's not much there to warrant spending $310MM (at $2) in my opinion, let alone $465MM (at $3). You're essentially paying all that for full rights to QST and a share of epipen. The real question is basically what is the combined worth of these 2 products? The rest of the products and pipeline are essentially worthless from a profitability standpoint. I'll let someone else answer that question...