I have to disagree with your assessment that MSB's intrinsic value has been increasing.
The reality on the ground is MSB has been unable to convince various pursuers to take the next step and tie the knot.
Celgene and Mallinckrodt had a peep inside and decided to do nothing. The closest one to a full partnership was Cephalon which after a few years of marriage decided to divorce MSB and last week took the next step in the divorce by selling the remaining joint possession.
The fact that these raisings had been done at lower and lower prices is an indictment of MSB's failure to follow through with its commercial partnership, definitely not an example of management success.
I'm pretty sure SI would be much happier if all of these raisings were done at $8, $10, $15 instead of $4, $2, $1.40....
Waiting for trial results before expecting the rocket to blast has been MSB's holders' favourite pastime for a long time.
I'm pretty sure next year and the year after, we will be waiting for trial results again.
In the mean time, the slices are becoming smaller and smaller and the pizza or pie is also not growing.
Listen to management's announcements and presentations at your own peril, instead follow the actions of the big pharma! Or in this case, the lack of action by MNK and Celgene and Teva is much more concerning!
MSB Price at posting:
$1.32 Sentiment: Sell Disclosure: Not Held
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