All true...but if Gilead thinks PRO 140 is likely to be approved, they might be willing to pay 1 billion now to protect their HARRT revenues, instead of the 3 to 5 billion they would have to pay in 12 months.?. Not that the company would take even 1 billion now - as you say there has to be a buyer and a seller - but who knows, companies will do a lot to protect high revenues and Gilead does potentially have a lot to lose. All this is the hypothetical of course, and I'm still long!!!