He'll come around once he realizes his options are few.
$30M would be trivial. Subtract $5M cash and $6M in B-UP development milestones and you get our market cap.
No. It's a question of where the real offers would be. $100M? $200M? $300M?
Remember, the pipeline is of very little value to us because we have no money to advance it before patent expiration significantly diminishes the value. BP on the other hand could immediately advance it on all fronts and actually take advantage of fast track and BTD.
The key is finding that sweet spot where Leo's ego is willing to sell. Now that we have suffered the COVID failure and the resultant market cap decimation, a steal for BP, say $200M, is much more palatable as a 10x buyout.
I'm reasonably certain all the talk of buying new assets and running phase 3 OM is just Leo the Lion raising the hair on his back to look tough after being gored by the COVID wildebeest. The hyenas are moving in on him.
Go IPIX!
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