Ann: PAA completes Phase 1 and files for Orphan Drug Designation, page-201

It is informative to gain insights into how BP are viewing acquisitions from their own perspectives.

"The reality is, most companies that are eligible for buyouts are in the earlier stage. Lilly doesn’t mind the risk of taking on an early-stage company and just has to be better than its competitors at predicting what’s going to be the next big thing in medicine.

“In our domains of expertise, we better be able to call balls and strikes better than our competitors and maybe better than even venture capital. And if we can do that, we can pick winners,” Ricks said."

I personally think an easily administered GMP drug that demonstrates superior effectiveness in treating MND/ALS and with strong potential to expand into human cancers could well be considered the "next big thing".