If we can assume that valuation of the existing commercial portfolio goes across at 2.5 x currently projected (and downward adjusted) sales (very reasonable given the gross margins in play) along with a reasonable discounted value (incremental NPV) of their late stage pipeline, I arrive at an enterprise value of about 575M. Yahoo has them at 680 which cannot be correct. Nonetheless, this suggest a valuation, apart from any take out play of about 9.70 per share. I picked up a small block near the close today to test the waters.