Pretty much price vs risk - as you say I've been sceptical in...

Pretty much price vs risk - as you say I've been sceptical in the past and still retain a fairly healthy scepticism.

But I've always had a soft spot for MSB, I knew Silviu from his time at Columbia, was an investor in the IPO and it made me a lot of money with the Cephalon deal, so I've continued to follow it with interest in the years since. I've dipped my toes back in a couple of times since then with mixed results, who knows what this time will bring. But I think the upside is worth the risk at this price and at this stage in clinical development.

And if I'm wrong, I could do with some tax losses!