option agreement with tibotec extended, page-4

Yes, I find this announcement disappointing.

Preventing AVX from talking to anyone is fine, from Tibotec standpoint, but is has to have a cost.

Otherwise, it is really a lose lose situation for AVX, as they can end up 4 months down the track, with no partner, no money left in the bank, and lost credibility (due to J&J having had a look at their program for 10 months, and in the end deciding not to go ahead).

From the sideline, they behave like they are under a lot of pressure, happy to agree with any sort of deal, and are in the light weight category.