Celgene Agreement

With regards to the 4/15 deadline, these are the possibilities (you may add more as per your analysis):

1. Another 6 month extension. Reason: Things are probably taking longer than expected in clinical trials, making decisions difficult for Celgene.

2. A licensing deal is announced

3. Current agreement is terminated by one or both parties (I hope not)

So impact on the share price would be, for each of the 3 scenarios above (guesses of course!):

1. No impact. We trade at curent levels until the next price sensitive announcement (whatever that may be)

2. The share price shoots up

3. The share price takes a hit. (In this scenario, would Celgene dump their 15.3 million shares, even if it were for a loss or wait until break even in the future and then sell?)
I could not find what (if) terms they agreed to in case the agreement is terminated.