BIOD should have done it right the first time - They should have done a re-do without the FDA, why maintain a damaged trial, flush it and start over. They needed the FDA to tell them that, what a bunch of dummies. How can one expect the FDA to bend over backwards, they want a clean trial. This is the message to BIOD now - "give us a clean trial" .
The preapproval price of $3.50 probably priced in a CRL. However, two new Phase III would be the worst case scenario for them.
Your $3 per share may have to sit a couple of years to see any gains, unless BIOD were bought out.
Partnership is an unlike scenario with their low cash, and the partner pretty much has to fund the two Phase III. Since Biod does not have much credibility at running clinical trials, why partner with them, instead of buying it out and taking over the phase III trials?