jake-
yep...they probably had no intention of making the russell.
Like I've been saying, this float is very large and retail held most of it. That is and has been changing.
With the latest deal, we know 15% is institutional right off the bat.
Questions are, how much did they buy ahead and after the deal?, How many of the russell funds sold out or just flipped to the micro cap side? How many other funds bought under the cover of the russell rebalance? and How many shares are held off shore? Could be close to 50% institutional now.
As far as a cheap deal down the road? Not a chance, they'll run this like Immunex and more if data is good.. BIG STORY to be told here with CHAVI,NIAID and data will be included and the story will be backed by folks like Haynes, the Gates Foundation and Fauci.
Partnering deals will come, they just will be later this year and in 2008 and will be worth more.
Bavi is looking like it looked in pre clinical studies and you know what Thorpe says about that.
PPS right now means squat to those buying here, they have the power and means to move this quickly when they decide enough shares are in their hands....
12-18 mnths is a long time for retail folks to suffer as they watch every tick compared to those taking the float slowly but surely..
I still believe merger, buyout or they take it all the way thru many partnerships.....in that order....
They are sitting on a blockbuster and know it.
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