Again, what Anavex has of value is about $130 million in cash. A mid-to-late stage biotech company in need of money to advance multiple products in its pipeline would have a hard time raising $100+ million in the traditional way. Acquiring Anavex for its cash would therefore make a lot of sense. You do an all-stock deal in which Anavex shareholders get stock in the acquiring company and everybody wins. The acquiring company gets a big pot of money and Anavex shareholders get stock in a stronger, more promising company.
I’ll repeat for emphasis: Anavex. Has a lot of money on its balance sheet. That is where the value is.
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