"Before the recent rejiggering of interim and trial size I had thought about going long after the failed interim."
The play is still a possibility, given that we might well see a larger PPS drop after the interrum than under the old SPA.
If DNDN drops to around $4 (and I would expect even lower is possible) on a failed interrum, what is the investment decison? Risk/reward of likely 5 to 1. Odds anybody? Perhapse some calander spreads could even be a better play.
EDIT - proces are in todays world, and of course subject to serious changes before then. But the concept holds.