>IMVHO the best fit for me is the intended partner was Pharming<
jesse,
I'm of the same opinion. I don't put much stock in coincidences, and there have been several "coincidences" in the past few months.
GTC was confident a deal would be done by the end of December. Pharming expected a positive opinion on Rhucin from the CHMP by the end of December. Neither happened.
Then, GTC guided toward a possible done deal in 1Q08. Pharming indicated they expected to prevail in their appeal of the CHIMP negative opinion in 1Q08. Neither happened. (Cox's "few weeks" prediction was voiced March 6th and Pharming received word their appeal failed on March 20th. Neither company has said anything since. Also, GTC's still unexplained sudden drop in pps from .70 to .45 took place during that period ... the drop Cox reacted to. That drop could have been the result of knowledge that the CHMP was not wavering, and therefore the deal was in critical condition.)
With the slide in Pharming's market cap since December, now with no anticipation of an early recovery, any possible deal would have gone back to square one, I would think ... if there indeed was a possible deal.
Maybe we will receive some clarity tomorrow, but I'm not holding my breath.
AI
