I would like to add the takeover candidates you feel are serious prospects to my watch list. Do you have a list?
Please recall in our discussions that any one drug in our pipeline could be sold as a stand alone asset. There are no automatic impediments to a take over if there is enough value remaining for the core buyer, if the deal limiting drug can be sold.
Realistically the entire drug pipeline could in fact be sold piece meal. Unless there is some kind of business inter-twining of the drug lines, each drug is a essentially a liquid asset. It is even hard to conceive of inter-twining issues other than maybe a multi-function sales force, or an especially effective 1-2 drug combination, which by the way, is not there at this time.
IMHO, I would like to urge those of you who are concerned about a take over to send the board and management a firm message addressing your concerns. Please ask that more be done for anti-take over protection. I understand that currently our only protection is how fast we are burning cash in pursuit of our goals. Sooner or later we will cross some point for every prospective buyer where our cash burn rate is now acceptable. Unless anti-takeover measures are installed a takeover bid is only a question of when and how much. Since we have a board meeting in a few days, it would be especially important to act now. I believe I recall Joanae Barnes, of IR, is out through the 17th, so be sure to get your message to somebody else, as well as IR. Try to make sure a board member hears your position. Your will find contact information and board member names at this web page. corporate-ir.net
If you are a call option holder, tell them up front and be sure to relay the size of your holdings, then speak your peace, so they know your position as well. |
