From my reading of the Nexia news, I agree with Dew that there does not seem to be significant impact on GTCB. I believe GTCB licenses technology to Nexium and, presumably, the license transfers to PharmAthene.
Obviously, the news has had a huge impact on Nexium (down about 40% so far today), which many GTCB shareholders claimed to hold as a play or hedge along with GTCB. The price drop is not surprising to me, since NEXIA shareholders seem to be offered shares of a private, even less liquid company, which would not suit many private investors. For institutional investors,however, it seems like a good fit for Protexia to be sold to a US based company with other biodefense projects in the pipeline. I'm sorry for the Nexia shareholders, but it sounds like a prudent decision on the part of management.
Urche