Seelos Therapeutics Inc (SEEL)

[Dimitrios George]

MK, IF there is an issue with Europe approval that is NOT easy to resolve, then I would agree with you on the low ball offer. If Europe approval is in the bag, then high ball is more probable.

Remember, the company, so far, has positioned itself to sit back, like a bond holder, and clip coupons. As long as they keep licensing their income will be royalties. Damaj clearly also wanted to take the company in another direction with Scomedica and perhaps going alone on Femprox. This Board likely feels the company does not have and is not about to acquire the infrastructure needed to handle cradle-to-grave drug development, manufacturing and direct sales.

In summary, if Europe approves the company will be looking to multiple royalty income streams already in place and negotiating more of them. If they start the Femprox trials by themselves, it might only be to better position themselves for a good license deal. So I say no company sale. Of course, that pretty much guarantees we will get an offer.

I need more coffee. : )