Biotech Values

[RockRat]

Given the docket recently posted -- noting a conference on the 8th of this month -- a ruling in the 3rd q seems increasingly unlikely. However, the caveat here is that I can't for the life of me figure out what in the docket pertains to the claims construction versus the case in its entirety (it might not be possible even for a knowledgeable lawyer to figure it out, since the docket is all the info we currently have on the matter). My guess is that we'll have to wait until sometime next week before the biotech values legal team gets a hold of the documents and parses them.

Thus, there is the temptation to sell September calls against one's position. If the possibility of a ruling before the 17th is deemed vanishingly small, about the only thing that could wreck that trade would be a partnership announcement, most likely of a FOB. This would also explain the fearlessness of MNTA bears to this point. We might see covering and some price appreciation as the 4th q draws closer. This would argue for not writing those calls too soon.

All the legal squabbling over expert witnesses and their declarations . . . wow. Is it always like this, such that darn near a year for a claims construction ruling is average? North4000, you're a patent attorney, no? Any comments?

Regards, RockRat