I would hope that any TO would be at a greater premium than that. If it is done of the bais of Cephalon taking up their rights at 70c one would assume the data is good and that FDA approval highly likely. In my mind that should put the SP value at that point at 70 and probably closer to where they were a year ago - any TO should be at a premium to that I would have thought.
Cheers,
I-man