In my opinion, AVR is destined to be taken over or sold. I think...

In my opinion, AVR is destined to be taken over or sold. I think the value is in: (a) the IP; that is, ADAPT and TAVR; (b) the proof of the IP; that is, over a decade of in-patient use and a multitude of studies; (c) regulatory approval; esp. the FDA.

So far as value is concerned, in my view, (a) is in the bag, (b) increases every minute the bench test proceeds and the valves in the sheep and human patients keep flapping without calcification; and (c) is the crystallising event of FDA breakthrough status, which is proceeding at the regulator's pace and, I believe, is inexorable. On (a), (b) and (c), I am very confident AVR is a diamond in the rough.

You can sell anything if the price is low enough. I believe that the fact that AVR has not yet been sold is solely due to WC holding out. WC has suggested several times that there is a balance between selling early, for certainty, and holding out for the true value of this thing, which increases every minute, and I think will re-rate after FDA approval. I also have no doubt WC could attract a similar or better salary elsewhere; I believe he stays with AVR because of his professionalism and because he knows his own career and fortunes will re-rate with AVR once he negotiates The Deal.

The fact that AVR hasn't yet been taken over tells me something too - that there are no sellers of large tranches of shares. An on-market takeover would, I think, send the share price to the stratosphere; it's not feasible, in my opinion. So, there is a deal for a friendly take-over to be done; good luck to WC in getting the most out of this gem. The less news before FDA approval the better, as far as I'm concerned.

These are only my personal reasons for holding. Do your own research.