Everyone expects that BIOD 123 will move to phase 3 based on previous trials of old formulations. I think some of this is already built into the stock. Because of this, I don't see P3 data alone adding that much market cap. It's going to take other catalyst to push the stock that high.
The P2 data, if good, will push it to 6-7.
The expectation (for me at least) is that the P2 data will predict the P3 data because the two trials will be similar in design. This will drive potential partners to the table. The partnership will be the next catalyst. Whether it is a partnership or a complete buyout is anyones guess.
Esp with Lill's announcement this am!