Just off the phone with a hedgie who also wanted a bit more. 3 law firms said same.They apparently tried to get Takeda to make some alternate option available. "Ain't gonna happen", but we move on! We have a biotech scanner with 622 worldwide firms on same-same. Was 623 prior to this takeout! Some look very promising, some not so much. Takeda is solid, spending like crazy, so we move on from them as well. Like to use 14 technical s in DD and we pretty much eliminate low volume OTC firms. Our pricing models also use our algos to compute RTR on each. A RTR of 3 is about max after calculating based on our 497 years of collective experience.Beyond that loss ratio increases exponentially. Lots of M&A activity ongoing as we communicate. GL.
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