no deal means death. If we find out the current term sheet fails, like the last one, what will the share price be? It will approach zero. You are right- we could go on for years, counting down the pennies.
Oh yeah- I forgot- we are playing out that exact scenario now for the last 18 months! Too sad, too funny.
Let's be honest: the company is mostly dead now, at a quarter, OTC, failure of P, no deal for B for cellulitis, very disappointing B OM data, K on hold.
An IBD deal lets us catch hold of a root or branch as we hurdle down into the abyss and saves IP for now- but that is all. No rocket upward until B UC/IBD data back- far away in the future.
So it is true- death does not have to be sudden- we have just witnessed 18 months of a severe wasting illness that has left the promising company on the way to a slow death