I'm certain there is an investment group that would pay $80M to get the rights to Treximet/Vimovo royalties. Add $40M+ in cash and you have a company worth at least $4 per share.
Management has failed. This stock should never have remained under $4 for a sustained period of time now that the lawsuit is over--regardless of the market. Management has done a poor job communicating the value of Pozen to the investment community. They should have had a plan in place to buy the stock if it ever dropped below $4 per share. Clearly the company is worth more than that in cash and royalties.
No, they wouldn't be able to buy 30 mil shares under $4, but what I'm saying is that the company's best and safest investment would be to buy its own shares. You're probably right that it couldn't buy more than a million shares, but it should be buying all it can under $4, and certainly under $3.