I think there is too large a gap between what the owners of RAP are prepared to part ways for and what Pfizer are currently willing to pay.....this is the nature of blue sky investing meeting conservative corporate culture. If you were a Pfizer employee, you don't want to stake your career on something that my fail, as the upside doesn't offset the downside. Us investors stake our cash, but their is no reputational risk for backing a donkey.
That said, Pfizer want Covid diagnosis ASAP. A takeover would've been the fastest and simplest way to accomplish this both from a resourcing and approval perspective. RAP/Pfizer now return to the drawing board and need to come up with a plan to bring covid diagnosis to market ASAP. My guess is that the takeover bid is off the table and an extended product licensing agreement to get the product to market will be announced. These next steps, milestones and costings are what are being determined as we wait.
This explains;
- Phone calls assessing how much it would cost to acquire RAP - Continued presentations by RAP at investor forums - $4 million up front payment to continue covid diagnosis - Length on trading suspension
RAP Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
