I'm wondering if they were negotiating on Friday, hence the 10% increase. Negotiations fall through late on Monday, written confirmation of the rejection happens Tuesday morning via email. I'm actually thinking the covid-19 stuff wasn't spin though. I think the Elanco situation had the breaks on that one and when the negotiations didn't work out PAA request permission to pursue Covid-19 trials. Then we get the Elanco announcement and the Covid-19 announcement. I don't like when things don't make sense. I'm sure there are many different ways this could have gone down. I also think what has happened, has happened. We can't change it.
Definitely need to see action on Covid-19 pretty quickly to keep shareholders/investors interested especially after such a big drop in the SP.
Ann: Elanco Option Update, page-138
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