If that was the case at this time when M&A activity is high and...

If that was the case at this time when M&A activity is high and people are paying a lot of value for both NASDAQ and ASX listed biotechs why would they get only a regional deal with a $10m upfront for a Phase 3 ready asset at the back of randomised placebo controlled Phase 2 trial data, with payments highly back ended as majority of milestones are commercial on sales.. I take it this was the best deal on the table .. does not reflect people are falling over to buy the company. Next catalyst will be once Acadia starts a Phase 3 which is a year away. Unlikely stock going to do much in the interim till then. I think the BP report states well all the upside to their valuation.