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I would like to know what fellow Aurora shareholders think of Aurora's merger with Vertex.

I am underwhelmed with Vertex as a partner for Aurora. It's true that Vertex is philosophically committed to rapid drug development, and so might make a logical partner for a company like Aurora that has such awesome library-screening technology and wants to get into the drug-development action. But Aurora is a star in its field, and Vertex strikes me as a mediocre partner.

I also wonder whether the Vertex alliance will hamper Aurora's ability to work with other pharmaceutical and biotech partners, who may not want to entrust their data to a subsidiary of a competitor.

One potentially interesting explanation for the merger: Aurora may be so confident in the efficacy of its screening technology, and impatient with the slow pace of its contracts relative to that technology's potential, that it feels it _can't wait_ to get into the drug development action itself.

But I'm bummed that Vertex gets to have Aurora so cheap. Assuming I'm adding this up correctly, Aurora shareholders will have something like 20 percent of the shares in the new company, even though Aurora will provide about 75 percent of the merged company's revenue. I think Vertex is taking advantage of the fact that platform companies (like Aurora) are currently undervalued.

Aurora's shareholders, many of whom believed in the company's awesome growth potential and thus held on during the stock's stomach-churning drop, now see the company's low valuation frozen in by the terms of this merger into a larger company. That's a disappointment.
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