james - I am sure there has been a reset of expectations re. BO valuations for prospective bios in general. for us, in terms of possible BO this means:
1. BO price will be lower than earlier expectations of some many on this board (eg. biobillionaire with his mega-SP prediction).
1. Likelihood of BO becomes greater; I say this because a lower BO price is more appetizing and easier for a BP to justify from a BO valuation perspective - if instead of paying 44/share, you negotiate a 38/share price due to market conditions, it makes your consideration much more serious given the same revenue projections