I agree that Axiron is important. But this whole story hinges on...

I agree that Axiron is important. But this whole story hinges on the approval of Axiron by FDA. This will probably come in about 10-12 months time assuming NDA goes through a normal review process and that the NDA is not rejected by the FDA (i.e. the FDA says that the NDA needs more work). A decision on this should come in the next 2 weeks. Then, 10 months from then (usual timeframe) a decision is likely. I think its a terrific story too. I am not a holder of ACR yet, but i'm looking at it. Market has calmed down on the Eli Lily annoucement because they understand that the actual story hasn't changed a hell of alot, and the approval of Axiron is the major boost. If they get that early next year or late this year, then this stock will go through the roof. I too value this deal at about $2 a share, with potential to be more accretive as it goes forward. I will be waiting on this though, as there probably is no near term catalyst, and i'll be looking for an entry point lower than where it's at.