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BioMimetic Therapeutics Inc. Message Board

  • deepvalue44 deepvalue44 Feb 13, 2013 1:20 PM Flag

    BMTI Current Price

    Shares are currently trading about $2 higher than the merger value, suggesting that the CVR's that will fetch $3 upon approval have a current implied value of $2 or so. Appears the market is strongly suggesting approval, but I am curious to hear other's take on this, if I'm missing something, etc... Thanks in advance guys/gals.

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    • "hat is most likely reflected in current share price"

      If that were true BMTI would be trading above $10.

      I agree, however, that as we approach the merger date the price should increase because the risk of an adverse decision scuttling the whole deal decreases.

    • That is correct. The market is pricing in right now at least a $2 CVR value. Approval is 90% certain based on company merger agreement thus that is most likely reflected in current share price. It will be interesting to see what the CVR's trade at post merger and post FDA approval. I have assigned a $1 value for the milestone CVR's worth $3. The market may have a different idea. I expect this to trade over $9 and as high as $9.50 prior to merger as we get closer. Vote is February 26 and closing could be as soon as a week later.