Ann: Court approves convening of scheme meeting, page-10

Definitely in agreement that we're grossly undervalued but I still think that BMS won't be interested. Their huge investment into Nekstar as you've pointed out at least signifies that they see potential competitive advantages in other drugs.

I would encourage you and others to take a look at the NKTR-214 combination with Opdivo (yes, very preliminary results) which was in collaboration between Nekstar and BMS - http://www.nektar.com/download_file/view/571. The ORR was 64% for treatment naive melanoma and 75% for NSCLC. Note that the samples are absolutely tiny but results are promising though. My guess is that the valuation you mentioned reflects the multiple indication included in the Nekstar study, i.e. renal cancer, melanoma and NSCLC. Again, only my opinion.

One could argue, well, BMS why not bid for Viralytics (cheap as it is) and incorporate with other developmental drugs too. Only time will tell. I'm really hoping for some superior proposals but am not confident that it will happen.