why buy at 2.5c, page-5

BlipTrader,

I have traded OBJ previously, when all the hype regarding T/O by 3M was perverse. However, six months later, still nothing has happened.

In your (very simplistic) calculation (I would not call it NPV, rather a subjective EV calculation), I have a few questions to ask:

1. What do you define to be a positive announcement?

2. Given the positive announcement, why do you expect the share price to be 12c?

3. Why do you attribute a 10% probability to a 12c share price in your 'cynical' view. IMO, a 10% probability should be in your 'optimistic' view.

Please be careful with OBJ and other biotechs that have no revenue and no immediate future cashflow. I understand they have a fantastic technology which could revolutionise the drug delivery scene.

Also, the market clearly does not agree with your 'cynical', 'optimistic' and 'realistic' scenarios.