Ocera Therapeutics fka OCRX

[1millman]

15.3M cash at end of 4Q, add in 1.6M BMS payment and deduct 1.2 admin expense at the most for 1Q and we are sitting at 15.7M in the bank. That equates to .5688 pps at cash only. We are sitting at a 28% discount to cash at yesterday's close of .42. This doesn't take into consideration any value of MATCH at all. BMS must think it's worth some bucks otherwise they wouldn't be committing to future 80M milestone possibilities. No insiders have been selling and management has lots of connections to find a buyer. Hired Stiefel and Skadden to broker a deal, just a matter of time before an announcement comes out as it's been 10 weeks since the announcement. Just waiting now. Not much downside here IMO.