Speculative M&A Transaction Analysis, page-595

My earlier research on the Viralytics acquisition is below ( from Post #:50954944 ).

The difference for RACE is that the shareholder base has a strong understanding of the capabilities of the drug and what that could be worth to big pharma. My guess is that the market will catch up - once RACE pop out from below the radar with an arsenal of data. We should see increasing amounts of data over the next 12-18 months and that should bring the attention of international biotech analysts. Also remember that management are fairly well connected ( particularly Dr C and PL ).

My goal here is to show based on examples from industry and my own analysis of NPV what RACE and Bisantrene should be worth to a partner or a buyer.

I think the problem is that shareholders in Biotechs on the ASX have for too long had a blinkered view of value ( that's because most of them probably only look at value of other Biotechs on the ASX ).

VLA shareholders were disappointed with the lowball buyout:

https://hotcopper.com.au/threads/very-disappointed.4033660/#.YCceSxMzbQ0

It was fiddly to find a chart for VLA but found this one.

https://hotcopper.com.au/posts/31344904/single



Looks like a fund was dumping stock late 2017, so I guess even they didn't know what Viralytics should have been worth.

https://hotcopper.com.au/threads/rac-charts-price-action.5499241/reply?quote=50954507

UniSuper was also selling off stock

https://hotcopper.com.au/threads/ann-ceasing-to-be-a-substantial-holder.3962339/#.YCci7RMzbQ0

I guess management at VLA didn't do a great job in educating their biggest shareholders.