63 Million Shares traded since announcement, page-31

If shareholders vote against Merck's offer and the NO vote (miraculously) gets over the line, Merck may decide to no longer fund the combo trials. BMS never commited to paying for the trials involving their drugs... nuh, they let VLA pay for it... so might Merck this time around given a snubbing of their offer.

So, if VLA was put back on the market, we may as well kiss goodbye at least half the premium Merck are willing to pay at this point in time, plus the $50m in the bank will diminish pretty quick with VLA having to prove its worth again.

The company's market capitalisation (and the value of our shares) will be at the mercy of the stock market's "wheel of fortune" once again. Stuff that... not to mention that we are sitting more and more precariously close to the 10th year average for a stock market crash. In fact, we are sitting smack on top of the precipice. Don't mean to sound like an alarmist, but "Hello"!!!