Doc - any deal with economic value is reflected in the share price - otherwise the market is inefficient.
The price moved by less than 0.5% therefore the economic value of the deal is less than 0.5% of £200m - i.e. not material in the overall scheme of things.
I am long OXB and have been since 29p, but I fail to see the benefit of completely irrational expectations which some posters bandy about. I prefer realism. The share price has risen about 30% over a short period of time and this rise in my opinion has sweet FA to do with the two Lentivector deals and is in anticipation of the Trovax deal (which the market has discounted by about 10p or £50m) If the deal value turns out to be more then the price will rise further. If it turns out to be less it will fall - if it's £50m then you will see a fall on profit taking. If there is no deal it's back to 30p at most.