Dendreon/Corvas......
Important day for biotech. The opportunistic grabs are falling out at a good pace.
This is a very good thing, whether or not Corvas science has found an optimal home. The little companies that struggle along with discounted private offerings, diluting faithful (and most often naive) shareholders? If this merger mania continues, they'll finally stick out like sore thumbs. If they have something real, they'll get picked off or continue to struggle along with the discounted placements. If they don't have something real, perhaps they'll finally go poof.
Companies are grabbing discounted cash that is not encumbered, non-convert companies. But why wouldn't a company with a promising late-stage candidate -- a company that has TRUE confidence in reaching market -- grab the discounted "convert" companies?
I'm assuming, but do not know, that a VPHM-like clause is shared by other convert placements, that there is no acceleration in a stock-for-stock deal. Please tell me if I'm wrong.
But, avoiding that particular question...... Arena coming soon?
Please start yacking, folks! Thanks.
And, BTW..... I still haven't made those revisions to "2001" that I've promised to make since last Fall.
:-) |
