your either in or out, page-38

Hi Wasa

This thread went a bit sideways so maybe this will put it back on-subject.

The possibility of a takeover is always there esp. for biotech's. I was very surprised last year when GK announced that they were really close to signing a partnership deal until the GFC killed the deal (can't recall the exact source but recall the comment was made as part of presentations made at or around last AGM. It's on the public record if anyone wishes to get the exact quote). I've always expected Prana to go it alone till the end so those comments really threw open the possibility. It should probably be noted that in those (dark) days Prana had few options and needed cash to advance studies... hence the move towards the HD studies (i.e. the need for a partnership today may no longer be so critical).

You always expect a big pharma to come calling when a biotech starts to make in-roads. I read a lot of comments that these days a biotech needs to be heading into PIII testing before they will come knocking on the door. Notable acquisitions in recent years that went bust have made them shy, more than in the past where it would have been reasonable to expect a deal after safety was proven.

I also read that they are cashed up with diminishing pipelines which favours a renewed interest in taking over promising companies such as ours.

Bottom line for me is I remain squarely on the fence... takeover is a definite possibility that could now come at anytime esp. after Q1-14 AD results come out, but I equally believe that the company has the potential to go forward alone.