Just in case anyone forgot, Thurs is the expected results of arbitration. Look for an 8k between now and early next week for results. Don't be surprised if stock price drops going into friday without news as an opportunity to shake some people loose. I don't believe any recovery has yet been priced into this so upside is significant where as a downside won't be overly harmful to price long term.
I would think worse case is a 10% PPS drop. Though I highly doubt that. current pps is based on NDA, surety of final approval within 6 months, and marketability. I think the more realistic "worst case" is nothing happens. I highly doubt that there won't be a positive development with a settlement of some kind that is highly rewarding for ANAC investors by EOM