Capitulation time for Bionomics?, page-9

On another matter, I wrote about the BVF's position in all of this (with some speculation about what that might be). I also think that Merck must be quite happy to watch this unfold. I doubt they are too concerned about the value of their holding at the moment. One might expect that if they were to take the next step with their partnership (on the basis that there are positive outcomes etc etc) it would be a much higher value than the holding (at the current SP). Where would that lead them? GLTA