Do we allow for this possible additional share of wealth not knowing if a buyout is imminent or do we stand pat and allow as some have put in posts for the "organic" growth that will happen with upcoming catalysts.
That is a very good question, and one that can't really be answered without perfect situational awareness -- which we do not have.
I personally don't mind management 'dipping their beak' if a buyout is rich enough to compensate me for time, opportunity cost, and risk.
However, it does strike me as being the wrong time, and possibly the wrong amount to ask, given an "organic" growth scenario.
Mind you, I don't think it's wrong by much. I think this 'ask' would have been better-saved for after the FDA's response to the CD12 interim readout.
And remember, it would be entirely consistent with recent illogical behavior by the FDA for them to look at favorable interim results and still demand we complete the entire 390 subject trial.