"Although I said that I don't believe a firm offer was put forward and that he had to go with what he had, I assume there are still negotiations ongoing and maybe he had to move ahead to show they didn't have him with no other options. Maybe by proceeding, they will finally decide they have pushed him as far as they can and seriously come to the table."

RVXOT, when I listen to Slide 7, I have a different take than you. It sounds to me that he expresses much detail and had many discussions with BP on the 5-year plan. Don's main objection seems to be 5 years more than it too long.

He states as best as I can make it:

"So on slide seven, this is your standard approach that pharmaceutical companies use. This has been discussed in detail with a couple of different potential partners. Don't freak out over the five years. I have no intention of following this plan. I mean, they were going to pay for this, but it's five years, is too long."

Koo