I've never understood biotech boards' enthusiasm for buyouts? For a drug product that is wildly undervalued, buyouts are infrequently the max return - although they are the quickest. OTOH the desire for buyouts seems to occur most frequently when the stock is either substantially underwater or has languished for a very long time.
Naturally it's the immediate gratification you get w a buyout. The only company I've ever owned that got bought was MITI and it sure was great news to start the day. However no doubt the largest payoffs are going to happen when you continue to own a company with a successful commercial outcome over longer time periods.
BTW - I'll respond to your other post, but it is a well thought out post and so it will take me some time
Thx! I may not always agree w you but I do value your input and enjoy your posts. I look forward to seeing how you dissect my arguments ;)
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