I dont think Merck would be willing to walk away now that they have shown their cards. The SP only seems high because there appeared a relentless push to maintain it lower during the negotiations.
Yes I agree if Merck walk away then it will drop back, but 63million shares have traded at the higher price so there quite a bit of inertia there. But my point was that for it to drop below a market cap of $140m(50c per share), when cash and tax receipts add to more than this should only happen if the technology is proven worthless.
I believe there is quite a high possibility this technology will prove successful, so I will be sticking it out to the end, whichever the outcome.
VLA Price at posting:
$1.69 Sentiment: Buy Disclosure: Held
