Thanks for your thoughts listen_up. I'm not sure I can respond...

Thanks for your thoughts listen_up. I'm not sure I can respond to the specific questions you had, as I think we are not being fully informed of what is going on. I'm still unsure of what the objective was of the Phase IIa trial. Whether the efficacy was a given, and they just wanted to trial the subcutaneous patch at Novo Nordisk's request. Also, the results were at 12 weeks. We don't have the 24 week results yet.

So I'm hanging out for an announcement this week for more information on the trial, and how the negotiations went in Europe. Until then it's a bit hard to make a call on a take over.

The market conditions are in Novo's favour, but remembering that the two ex-Novo directors each have one million options exerciseable at $1.00, then I would expect any offer from Novo to be north of $1.00.

Novo would need to discuss with some of the major shareholders to see what they would sell for to see if it was worth bidding, and they may be doing that now.

I've been a bit in two minds about whether a takeover would be a good thing. On the one hand I would like to hold out to get a better price and keep the IP in Australia, but on the other hand Novo are more likley to get the drug to market faster, to the relief of a lot of RA sufferers, and manage the process better. After the efforts of the past few weeks, where management made an over-the-top options play, and then left us wondering after the results announcement, I'm starting to hope for a takeover.