I can't say I would be happy to see a takeover at, say, 12.5c, but I don't have all that much confidence that the shareholders would turn down five times the present price. I think someone who saw value in our IP might try the outright purchase route first, even on a hostile basis.
As for what TO would accept, @debono, he and the board might make a recommendation but it would be up to us, as owners, to say if we want to sell at that price.
Ann: Positive AD-214 Phase I extension study results, page-193
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