>IMO, this shows that while the street prices companies on past performance, prospective partners/buyers consider potential.<
The way I would put it is this: The stock market can be notoriously inefficient, but the market for buying and selling drugs and drug companies is generally quite efficient.
Let’s talk biotech! “The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”
It isn't so much the percentage gain as the fall of MEDE. It fell to over 1/2 sales (Revenue Per Share (ttm): 2.894), and last Q had just turned profitable.
So if GTC falls to 10 cents and gets bought out for 40 cents, it too will have a 400% gain.