$10 Billion Deal, page-12936

Great post pesa. All that sound realistic and about right.

The only point that I would make is that when results do come out, and they will eventually surface in one form or another, and BIT management start shopping these results around to various parties, they need to be something other than desperate. You touched on this in your post. But having less than $1m in the bank smacks of desperation and this is a public company so every pharma they speak to will know the finance clock is ticking.

They need to resolve this issue quick smart. I therefore see a CR as a "good" thing at this point. Not because I want to donate any more of my money to them but because I believe its both necessary and positions them for any negotiations. Yes, like most I would prefer results first but what we want and what we have got at this point are two very different things.

There are no "good" options without cash in the bank. Removing the short to medium term finance risk creates more opportunities for "good" outcomes.

PS. And yes I agree that short term traders will see everything very differently