charlie (Post 20110) I think we are in a win win situation at present, i.e. either a huge deal for Cetilistat very soon (and possibly for Renzapride and COLAL-PRED) or a take-over.
I consider a take-over remains highly likely, whether they do deal(s) or not. My reasoning is twofold. Firstly, without deals they preserve the interlectual property and remain an attractive take-over target, with a take-over being very likely now the good Cetilistat results are out and even more likely if the ATL-104 results in February are OK (take-over late Feb. or March 2006 onwards?). However, and secondly, if instead they do a deal for Cetilistat or Renzapride, the partner could take a sizeable equity stake as part of the deal(s), which could subsequently lead to a take-over (take-over during the next 2 years, or maybe when the first PIII results for the partnered drug are out?).