this should be relevant to NEU's valuation, I would think..., page-49

mpec,

Interesting questions, worth noting that seeing bots with other agendas other than accumulation or distribution is not uncommon.

One thing I would look out for to “spot” an accumulation bot is meaningful volumes, which we are clearly not seeing. Therefore as your analysis points to it very likely not accumulation.

An alternate theory is it the bot is designed to cap the share price and hold it within a tight range to maximise the chances of shareholder approval (90%) of a T/O offer. i.e. buy dips, sell into strength and close the share price on lows to make the RSI and other technical signals appear negative and suggest disposition to traders and ta analysts.

It is important to note that the Leerink appointment signals to Big Pharma the company is for sale, negating the need for a hostile t/o. I suspect Leerink on behalf of Neuren has already circulated guide "term sheets" across all Big Pharma and interested parties have responded with non-binding expressions of interest and/or letters of intent and signed confidentiality deeds.

Because the next stage would involve furnishing interested parties with details on the trials beyond the information released to the market, I would have thought entering into it would prevent them from buying on market.

In regards to hostile takeovers or blocking stakes, If someone chose to go down the hostile takeover route, like you said it would signal their intentions and the price would run beyond the price they could probably buy the company for under Leerink sale/deal process. So no point. Furthermore, they would still need it to be approved by shareholders. Unfortunately for them, Lang Walker and other retail high net worth's hold a blocking stake, so it would be pointless. If they wanted a blocking stake themselves to preclude other parties I would have thought they’d be prevented from buying on market if they’ve expressed interest and signed confidentiality deeds and even ignoring that point with such low liquidity and a tight register accumulating such as stake would push the price north of $0.50-0.60, which would defeat the purpose.

Looking forward to hearing more on this soon. Potentially the next news is that a deal has been done. Here's hoping sooner rather than later with a present value offer contingent on tbi success, say $0.50 ex. TBI or a lot higher w/ TBI’s additional $4 billion end market + the value placed on derisking concussion.

Cheers,