While I agree with ER that $5-10 is too low, with our current MC it would be difficult for the BOD to turn down this offer (although I would support the decision with positive clinical cancer results). I think that is what Trding is saying is that a BP would be smart to move soon as the price will increase significantly once cancer results are known. I also think this is why they are trying to get as many P2 trials going as possible to increase the value and hopefully the MC so we don't get buyout offers at this valuation.
With positive cancer clinical results, even $15B would be a bargain for BP (this = $21-25 based on 700M or 600M shares respective). Just combo HIV would earn that back in 5 years, which is a pretty good ROI for taking virtually no risk. If they are shopping CYDY, then we need to hold off such negotiations and offers until more clinical results are known and reflected in the share price IMO. License away all non-cancer indications, but I'm hoping that BO offers do not start coming in or if they do, not too soon.
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Please do your own due diligence. All my posts and comments are not to be considered investment advice.