Some prospect of a rise in Avexa SP I reckon. The big worry was...

Some prospect of a rise in Avexa SP I reckon. The big worry was that the PGL EGM would overthrow the supportive board - that threat is gone. Now Avexa has nearly 2 months to find a deal with big pharma (if that happens, it would be likely to lead to the PGL merger being dumped by AVX shareholders). If that doesn't happen, then Avexa will have had 2 months to shore up support for the merger by convincing institutional shareholders to go with the plan. Either outcome is good news (if you ignore share dilution - but better to have half of something than all of nothing).

The only downside possibility is that the PGL meeting opposes the resolultion - but why would they support the board now, but dump the propsal then? There may in fact be some big holders who hold AVX as well as PGL and they are hardly likely to cut AVX loose. And as I say, AVX have 2 months now to convince the doubters - it seems unlikely that supporters of the deal would change their mind, the only question is how many of those opposing the deal now will come to support it in a couple of months. In summary, the chances for Avexa moving forward with decent funding look pretty good and I think now might be the time to get set at a ridiculously low share price. Of course, that's a bit tricky if you've already got a big pile of Avexa bought at much higher prices! than this!