Arry is in Purgatory and not sure it gets out until news on the Novartis deal is finalized.
All the small cap bio's I follow are down in the past two weeks. Large cap pharma doing much better.
I could find no word on when the Novartis deal is to be finalized.
If arry gets the drug back and the phase 3 results turn out positive, they then become a serious take out target.
At this point too many unknowns. If phase 3, IF they get the drug back, IF Novartis will cover balance of phase study. All we know for certain is the ATM keeps selling shares to fund research, and Ron gets options for doing little to enhance share value.
One industry source said more than a hundred GlaxoSmithKline employees, many in Collegeville, were told Tuesday morning that will become Novartis employees by the end of this year or early 2015 if the deal is finalized as expected.
"We expect it will take about a year for this to get regulatory approval," she said, noting the company has formed a "transition committee" to look at employee issues.
Both these comments were made April 22, 2014, SO roughly arry could get some definitive info by late 2014 to early 2015, 4-7 months.