PIP's case appears strong considering it has already been proven that SIGA management cannot be....well you know. Still think they will both at least double in 2014, but PIP could be a 5-10 bagger if they get the license.
The Delaware Supremes ruled there was a valid and enforceable contract. Standard measure of contract damages is the benefit of the bargain. PIP bargained for either a merger, or an exclusive license to sell ST-246. The merger appears to be out of the question. Only thing left is the exclusive license to sell in accordance with the provisions of the LATS. What do you suppose that's worth?