the assertion was not made at the AGM.While most participants...

the assertion was not made at the AGM.
While most participants focused on share price, the meeting may have been better served to focus on the value of the underlying assets.
It doesn't get much simpler than this. Biota is selling for net cash. All the assets and future revenue are given no value by the market.
If you think those assets have some value then you should consider buying shares.
I believe the board like many market participants are being fearful when they should be being greedy and buying every share on offer.
Forget the noise, look forward, determine value.

Those investors who cling to buy and hold beliefs and want a biotech firm with NOLs to distribute dividends should consider investing in index funds.