nope not my guess, do some research, what are the expected...

nope not my guess, do some research, what are the expected earnings for PDL for FY23, FY24 etc.
Then apply that to a valuation of PDL shares.

I am not trying to be rude or sarcastic.

The market knows this, this is why the share price of PDL recently plummeted below $4 as the 'risk' of the deal not going through increased.

This is a binary option: deal or no deal, scheme implementation or no scheme implementation.

And because its a binary option, the market is going crazy, because of the uncertainty of that binary option.

PDL share price rose very nicely today because the risk of uncertainty declined today. Very simple