Ann: Change of Director's Interest Notice, page-14

"Round 1 may be over but Glaucus would be aiming for $3 or less."

I don't think that's right, despite their purported $2.67 valuation target - a sub $3 share price implies impairments to BLA's $3.25 NAV (43% of which is cash), and a >$4bn AUM asset management platform with zero goodwill value. Unless there is widespread fraud across the platform, that is not a reasonable valuation.

Given the volume of BLA stock traded today (>8m or ~11% shares on issue), i suspect Glaucus has already closed out a significant portion of its position.