The buyout price (excluding the CVR) is a 49% premium to OCRX’s closing price yesterday, but a 26% discount to OCRX’s closing price on 1/27/17, before OCRX announced that its phase-2b trial missed the primary endpoint (#msg-128251911).
OCRX is currently trading above the $1.52 cash-buyout price due to the CVR.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.