I don't think there is much chance of a takeover getting up unless the share price is dramatically higher - SI would definitely not accept it and the other long-term insto holders are most likely in there for blockbuster gains. If the bidder tried to go hostile they would likely end up as a locked in minority with maybe 30 or 40% of the register maximum and no access to the cash flow when it starts (ignoring dividends or buybacks). A pharma/biotech would generally favour getting an exclusive deal on an indication and paying an upfront plus royalties - presumably in an indication where they have marketing expertise and synergies - lower risk and more efficient use of their capital and they don't have to fund/run expensive trials in areas where they have no expertise. This is a great long term stock and it could be a game changer in medicine - sure some people are hoping for short term satisfaction from a bid, but that won't maximise the value - just relax and hold for the long term - read Jesse Livermore!
Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. – JESSE LIVERMORE
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