Given Pfizer and Eli Lilley have abandoned what was a $1.8 billion USD development program for tanezumab, they would surely be looking at PAR's valuation of only $570 million AUD as super cheap.
Now that PAR is in its phase 3 trials, it will also open the door to more investors given some may have mandates or processes that exclude companies that have not reached this stage.
The probability of corporate activity increases significantly from here.
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