I am pretty sure you are right- I think it's 10%, that is why they wait till the end of the day. In my conversation with him he indicated he thought it was worth, well I wrote that earlier, " Oh about ( lowest possible double digit) and it ought to be $2 right now." I think this comes from the real life issue away from the stock market in Big Pharma, man just check out SGP recently- Pfizer and LLY have been going nowhere for years, MRK had a pop - it recovered it's Vioxx losses, the European BP's have been better but not much to brag about. I believe they all have more problems ahead wih patent expiration making developing Ampakines with 20 years life that may offer miraculous effect a bit more valuable than $25 million. I agree that RD is quite binary but who knows we don't have a ton of interest in the whole package from BP. Ron Garren is saying this morning there is tremendous value in small cap biopharma stocks in spite of a conservative regulatory environment. It's nice to know otherwise it is meaningless to worry about the overall markets when evaluating Cortex- I see no easy way out of the mess in the equity indexes-they cut rates aggresively and print money, wave bye-bye to the value of the $-which will wax the purchasing power of the middle class.
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