I think CFDA approval could be set in stone in May or June 2018.
I feel we're less than half way through the turnaround process. So based on where BAL is operationally, the share price is probably about right on a risk-adjusted basis. That is to say the current share price does not reflect CFDA approval and represents an opportunity for those willing to wait for at least seven or eight months.
If the current share price reflected CFDA approval already, I would be out. But we're not even close, and I am more than happy to wait seven or eight months or more.
