The value of POZN is worth more then the $6.10 you quote. All you have to do is look at that "time reference", That number is the value of POZN before the ramp up to FDA review of PA, right after this specific point is when it comes into play the value of PA. After Friday we know that PA has value as noted by the FDA...they just have to shore up the manufacturing side. Since POZN has this value...it's worth much more than $6.10.
Also, if you took PA out of the equation, you still have VIMOVO that has been stagnate up until the time that Horizon buys the product. This coming QT report there will be increased revenue as a result of over 250 people selling this product. VIMOVO was a neglected, ignored product, previously owned by Astra Zeneca. Remember that VIMOVO is vital to Horizon's (the new owner) success. There is lots of pressure on a unique sales force, that is paid per prescription. Their income is derived by prescription growth. They are selling in a market that the doctors know this product well and like it. They just need reminding of it's value.
What ever the decline of this stock, we know it should be for a short term - May 8th we will know more about the growth of V and the direction of P. A question I had to answer myself is: do I want to take the risk the shorts are deploying knowing that the price can turn around quickly because of the points noted above? The tax consequence of selling now is not the same with a company without a bright future - this company appears to have a bright future with two new or revitalized products bringing in revenue with significant royalty potential. IMHO