@TonyWAIW At the moment I don't see the disadvantage in holding...

@TonyWAIW At the moment I don't see the disadvantage in holding onto the cash Tony. Very rarely is a debt-free Aussie biotech that is going through a growth stage in a position to expand that growth through self funded means. I would understand your argument if Neuren proposed to hold onto the cash for an extended period rotting in a bank account at the expense of further growth (looking at you Clinuvel), but thats not the impression I get with Jon and Co.

If Neuren decide to keep the four NNZ2591 indications, they won't have the resources to fully develop them so incurring debt will be a part of the mix no doubt. But fiscal propriety is still important in how the market views Neuren and its operations. I say having a significant war chest as Neuren has would stabilise the sp, keep Neuren independent through the NNZ-2591 development stage, or ultimately increase Neuren's leverage in asking for a higher takeover price. "We can fund ourselves with cash and debt, if you want us you'll have to pay through the nose".