The appropriate risk to reward ratio has not yet been applied.
Deutche Bank posited an $18 valuation for MNTA in the event of a Teva approval. MNTA is trading at around $22, representing a 22% premium over what I would consider the probable worst case scenario. So, you believe the DB valuation is clearly incorrect, and/or the market is excessively discounting the Teva risk. Which is it, and by how much?