the upside, page-11

Nice post antibody while we are getting a sense of proportion.

But with families of patents for over 600 of the little blighters who keep on multiplying, I think there is going to be more than one partner involved depending on the applications. And the CEO confirmed at the AGM he is having multiple discussions with multiple potential partners. He also said remuneration for the Japan story would surprise on the upside. Industry surely would have taken note of the fast tracking and the clinical trials results so far with the MPCs. So I don't think it's an either/or situation with 1. and 2, although I like your thinking about the US market. It's a tremendous force, anyone who thinks it isn't, is kidding themselves.

But it's worth bearing in mind what the CEO's comments are the AGM were. Not only are the Celgene negotiations going beyond the scope of the earlier option, but it's being extended so the negotiations can cope with that and the complexity of what will be optimal for both parties. The CEO made it clear. That deal can still be world smashing. Iltescu might have some better looking dancing partners than just Teva lining up....

The clinical results will indeed be game changing.

With emphasis on either 1 or 2? In reality, I see both applying and it's:

Bullish. Bullish. Bullish. IMO.

(...but it's fun thinking about how this will shape up while in the luxury of a trading halt...Lovely in fact!)

I'd hate to be sitting on some shrinking shorts...ouch factor!