You know everything with stocks and the market is carefully orchestrated for maximum bang for the buck. I suspect they will release updates on Menadione in a perfectly timed manner to coincide with FDA approval of Marqibo to get a one-two punch for investors, and to get maximum exposure for potential suitors.
At this point, I am inclined to believe that TLON's got good game up its sleeve. Monday's confirmation of FDA's on-going label negotiation for the approval of Marqibo, shines flood lights on TLON's possible game plan, and its future imo.
Your right in that WP will define the price. Marqibo for the ALL indication has an estimated revenue of $100 million. For all the other indications Marqibo revenue is estimated in the $2 to $3 billion. Dietcher has said that the market for Menadione is as much as Marqibo, so now TLONs prospective revenue is in the vicinity of $5 billion and that is before considering Alocrest and Brakiva.
The amount a suitor would be willing to pay will be dependent on a successful outlook for Marqibo and Menadione. Big pharma is looking for new molecules, a FDA approval for Marqibo for ALL means a strong likelihood of success for the other indications and the price for TLON goes up. Same thing for a succesfull phase II trial for Menadione. As the other indications show a response to Marqibo the value of TLON to big Pharma increases again.
Could TLON be purchased before the FDA approves Marqibo for ALL, of course. However, the price may not be what WP have in mind. Once they have the FDA approval for the initial indication and when they have the phase II Menadione results, then they will be in a better position to negotiate their price. I expect that price to be north of $10 /share.
With the delay in the FDA approval, the Phase II Menadione results may be known before the FDA decision. Investors/traders who would be glad to sell $2 to $3 /share risk being out of a position in TLON for a much larger gain.
Anything is possible with TLON, especially at this time, because Marqibo is more than "only a potential" now, imo. Let's face it FDA would not be "negotiating" a drug label for a drug they were not going to approve with that drug manufacturer.