IMO ASCO is the deadline if deals can’t be completed by then and we need to dilute this is a sub 2 stock.
On the brighter side the data has to be somewhat good to great for PSA in order to submit to ASCO. Obviously not going to submit junk. If it’s great which we all hope due to the magnitude of that market, one would assume Merck would lock it up prior to ASCO. IMO. No sense on waiting till the SP increase hence lesser need for a deal and just do a split of profits as we can dilute at that point if needed at a higher SP.