cash flow from fondaparinux and debt funding, page-49

where did the total paranoia about a takeover come from???

Cool your jets, i suggest.

management should be worrying about creating value and having it reflected in the market price of ACL shares. They will do this by pursuing a value-creating business plan, and selling the story as hard as they can to investment markets.

Every public company is for sale every day of the week.

If a bid comes, of course you get a chance to accept it or not.

However, in junior biotech world, bids are almost NEVER hostile. They are friendly & agreed at a time when the board thinks it is not well placed to take the company to the next level.

There is NO SIGN that this is how the ACL board is thinking. I imagine that could change once they have the Phase III results, but until then it just won't happen.

Next topic please.