You have nailed it in one traderci - we have a very smart CEO in Silviu.Novartis wanted more out of the deal than Silviu was prepared to give - simple as that. Silviu knows what he has in his stable and that is why he will be in the not-too-distant future the CEO of a top-two ranked market capitalized Aussie biotech!
Ann: FDAs OTAT Agrees to Primary Endpoint for Back Pain, page-186
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