Gary L. and the Board do not want to sell NBIX at this juncture. They have a pipeline with at least 3 blockbusters including Indiplon. The projected insomnia market just in the good old USA is $5B by FY2010 so plenty of room for Indiplon and Lunesta. Hell, the GNRH molecule could do over $2B in sales and its close to p2 results.
I'm still long NBIX. My holdings at this point are <1 M shares. I'm going to hang on for the future. Indiplon should get the nod for long-term insomnia x-ment. The potential for a buyout is still there but more important NBIX has an intrinsic value far beyond their pps!! While I have more confidence in NFLD, DNDN and GTCB for the near future, <1year, I'm hangin on to the rest for a couple of years.
Good luck to those who've choosen to remain!! All the best!