How could WS be so sure, if RVNC wanted a US partner there is ample time to make that happen.
Because this is an evaluation of Browne. CEOs have their quirks. E.g. No one believes anything out of Stanley Crooke’s mouth about adverse events. In this case it is becoming ever clearer that Browne is psychologically incapable of giving up anything long term, no matter the cost to the near term. So you can be pretty confident deals are off the table, especially deals that give up any significant long term %. AND owning shares that are likely to be highly diluted doesn’t seem attractive.
If I had to guess, I think the decline is more about the last raise being the final nail in the "the company is no longer for sale" coffin.
Meh. Buy out are over rated. Yeah, some fraction of the market roots for them. A bigger fraction against. The point is that his long termism Uber alles is pathologic and everywhere - it shows up with regard to everything. Being against a buy out is just one example..
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