Always the danger with small biotech companies that don't have much control over the shareholdings and little in the way of cash reserves. BIT will not be the only company in that position. It has happened in the past with other companies.
Shareholder base is full of relatively small holdings - none over 5% for example.
Another player could launch an aggressive bid say at 20 cents (only $200mil) and no one knows how many holders will just be willing to take a profit.
Not sure that this would happen to BIT at the moment - but maybe a third party would consider $200mil a reasonable gamble given the potential that BIT may have in the HIV field. These comanie deal in the billions and may even want to protect their own research.
Anyway, no indications of this happening or deals being reached with other parties.
Always the danger with small biotech companies that don't have...
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