I am a little confused by your two posts. In your earlier post...

I am a little confused by your two posts. In your earlier post which I quoted you suggest consolidation is the ticket out of penny dreadfulness and you continue along that line in the above post and then your conclusion is totally the opposite: "Capital consolidation is never a good news ..."

While for most of us ordinary investors SP is as significant factor as is the market cap (well for me SP is more significant given where SP is and the potential), for the pharma giants it is purely about market cap and what the company is about. Whether we consolidate or not, the market cap will not change that much (in absence of a news - which is the safest assumption), but IMO MC will decrease or stay the same - which is BAD news for SHs like me, who hope will have a decent (potentially 10 fold) return at the end of the data (good) news by Q2/2020.

These pharma giants know we exist, who we are and what we do! They are our partners! They are closely watching the trials, quite likely ultimately for a T/O too. The market cap staying more or less the same is ABSOLUTELY in their favor, not SHs like me, in a T/O situation. So, this consolidation is doing THEM a favor perhaps given the BoD is more in the know than me and you about what will transpire after Q1 or Q2/2020.

BTW, post 1/10 consolidation, we will need a news to be quite amazing for the same percentage return in SP. So, the outcome of the news (hopefully positive as we anticipate) will have a much more significant impact on current SP than when SP is 10 times higher (that is IF it will remain higher - as I said it will be harder to sustain it).