One more wildcard: it would not be completely shocking to see Pharming try to exploit this delay with a offer to buy GTCB. Pharming would have to act pretty quickly, however, to get a deal consummated before the EMEA finally renders an opinion. This is not an especially likely scenario, but it is possible.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”