Versartis, Inc. (VSAR)

[longx]

The following text is from today earning release:

... said Jay Shepard, President and CEO of Versartis, Inc. “While we cannot make any assurances that a strategic transaction will be recommended by the Board, we are encouraged by the interest and opportunities we have seen and we are now at an advanced stage in our review process. Our goal remains to maximize value for all Versartis shareholders. We sincerely appreciate the patience shareholders have shown as we evaluate paths forward and we hope to provide a further update in the coming weeks.”

The texts in bold & underline clearly indicate that they're near the conclusion of the reviewing process and the decision will be announced very soon in the next couple weeks.

And the balance sheet from the latest earning report:
- Total assets: $93.78M
- Total liabilities: $11.02M
- Total stockholders' equity = $93.78M - $11.02M = $82.76M
- Total # of outstanding shares = $31.1M/$0.87 = 35.75M shares

So for the worst case scenario: company properties to be auctioned and cash distributed back to shareholders, we will receive at least $82.76M/35.75M = $2.31/share. I think the possibility for this occurred is very small and someone will pay at least $8/share to acquire VSAR.