You're looking at it in the wrong way imo. Before the announcement, the stock was trading at 80c for a AUD$130 million market cap. It has added 50% since the announcement or AUD$66 million. So where you say that 2/3 of the current market cap (AUD$126 million) is linked to the most recent news, the market only assigns 1/3 of the market cap to the news (AUD$66 million).
I do however agree that the deal is worth more than the AUD$66 million added in market cap as it completely derisks the story and it now presents a low risk way to play the Alzheimer story as it will benefit from ongoing clinical research / trials, ALZ commercialization, etc.
CGS Price at posting:
$1.21 Sentiment: Buy Disclosure: Held
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