That's right, most of the large pharma acquisitions that occurred in the 2022 Year was when a bio tech company showed good results around efficacy and safety during there phase 3 or combined phase 2/3 studies and not necessarily once the medicine got FDA approval.
Im predicting a buyout towards the latter part of the year, when incannex provides the market with the interim analysis on IHL 42x
IHL - INCANNEX - Takeover that exceeds a valuation of $10b?, page-53
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