Oncology - Pharma Deals News, page-175

When we discuss premium % of buyout to SP, that's the premium from the SP just before buyout. When you look at the lead up to the buyout, the SP movements prior to it is quite significant.

Prior to formal offer talks, Synthorx was trading at around $17 on Nov 25th. Dec 5th they accepted the buyout at $68.

This correlates with my belief that the SP will move based on what the big pharmas are willing to pay. When you read into what happens to some of these biotech stocks in the US after positive results, some of the SP movements are 300%(Amgen buyout). Ultimately, if we can get very positive readouts, for 2-3 of these pillars, as Dr T has stated, the SP *should* move organically from the results. This is if the ASX is able to properly determine the worth of an aus biotech.

I believe one of Dr T's biggest concerns is that the shareholders will accept a lower buyout offer than the board would recommend. Given the history of aus biotechs, you can't blame him and hence the reason he probably wants to stay under the radar til we get PoC reults. The good thing is, he will be holding up to 10% of the company, coupled with the board and hopefully a group of us who have been thankfully educated by our esteemed shareholders we can see out a buyout that is acceptable to what bisantrene is worth.