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fbg0316

02/28/17 4:11 PM

#14160 RE: cab033 #14158

Cab, in another post you said the type of PR from yesterday rarely moves the stock. The announcement of the Amgen deal doubled the stock within a week. Granted, the Amgen deal included $40 million in upfront cash. You also say you find it unlikely a deal on AXAL is coming now because selling the partner shares at $9 is less than the average $12 across all of DO's offerings. Remember though, as part of the Amgen deal Amgen bought $25 million of stock at a price in the $8s. If Dan can collect $100 million in upfront non-dilutive cash from Astra on AXAL plus sell Astra $50 million in stock at $9 that would be a good development.