Or it could mean the acquiring company would fund the cost of the Phase 2/3 trial as part of the terms and still keep the entire subsidiary.

If Todos was a larger, more established company it would make sense to keep the assets and develop them ourselves, but in bridging the company to revenue generation by Videssa and other assets under development, it seems the spinoff is the best way to go. JMO

I just hope the valuation is as "monstrous" as Gerald recently suggested.