With no debt and cash to spare. They better have learned some hard lessons from North America. It will be nice to see the final European agreement. Also wrt to the pipeline it would nice to see them be more methodical in their selection of which molecule to move forward, and to run with one at a time. Its difficult to know how many shorted shares are still outstanding, or what percentage ever intended to be. But I can guess the vertically challenged still have the majority of their shares to cover. They have bought a reprieve, lets see if they can reflect and move ahead with increased deligence before signing anymore corrosive deals.
They have 156 MM current OS, which they can almost double if they need, (to a maximum of 305 MM shares). This will help get rid of CRG and the shorts get their shares. They havent really got many options, and need $60MM to pay off. Even with a doubling of LS revenue each year, their admin and R&D expenses soak up too much cash to make any sizeable principle payments.
I still dont see how they can get back all the shares they need, even with the CRG ruling. The recent increase in OS allowance voted at the last meeting is likely part of the "options" mngt is thinking. Their cash situation is anemic. Time to recall some favors from the investigator initiates clinical trial recipients and sell some product.