Chart, page-2650

Hard to fathom where the price is. I think along with others in the sector it would be struggling a bit anyway. Back towards $1.50 gives no credence to having successfully submitted the NDA. The second delay seemed like a major error on PAR side, and this IMO stopped any momentum. Add in no one currently in the CEO job (maybe a good candidate may be elusive given what’s ahead), delays to what some would have expected, a number of other indications outside OA, others in the competitive space, and really no hurry to invest right now and you get where the market thinks the price should be. Catalysts can change things though - a good CEO, any read outs, a clear strategy across all indications, some decent PR, results of the animal study etc. It’s not all bad and things can turn quickly but it’s up to PAR to drive. All said and done it’s a pretty good punt at these levels (no debt, plenty of cash still in the bank). Tks for the info and GLTA.