Abew my guess is they are still a small fish and interested inquiring companies have methods to pressure them into deals. It would be interesting to watch the stock in the coming months to see the long slow grind back to the buy out price.
Anavex is exposed to this as well but in our case we have a Rare disease pipeline which once Rett is approved gives us a lot more revenue than 122 million. Many criticize Dr. Missling for taking too long but he more than any of us here knows how the marauders play. He knows the financial games and players who carryout the tactics from his M&A days. That is why he has patented the heck out of our drug and refused to partner early giving up control. This “delay”, if in fact it is intentional, is giving us time to get Rett approved, or as close to it as possible which is a whole new ball game. Fragile X will come along soon after as well as a few others. He is playing for keeps, not the likes of others that are looking for the big “sellout” yacht party. My guess is the partnership negotiations are long and grinding due to inadequate valuations being offered and every future milestone detail being covered the likes we just dont see every day.
Would I love the pps up in the $40-$50 fair value area, sure but Im still patiently waiting as I see the writing on the wall and my picture has many 10’s of thousands of happy patients getting better on our drug and is beautiful. It long ball and we are passing on the little deals and are going for the big one!
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