A brief summary would be: we're planning and starting several small Ph 1 and 2 trials over the next couple of years and hopefully distract you all from spending around 12 million (annualised) on salaries, general and admin expenses, legals etc.
Which would be great if the market attributed any value to the pipeline, but as you all can see, it doesn't. That might change, but only if and when they are successful. So, the market is heavily discounting this pipeline: it's virtually worthless at present.
Not a single word on LANI in the conference call.
The results release tells us they have not yet completed their brief to the FDA and therefore no request for, or date to, meet with them is yet scheduled.
And nothing on partnering that compound.
LANI is their only current asset worth anything and it appears it won't be in clinical trials this winter.
They are still appealing the USPTO decision on relenza, without explanation. It has been rejected several times, and presumably we are incurring some costs to assist our loyal friends at GSK.
That sums it up succinctly Michael. Like a slow motion train wreck. All very depressing.
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ReplyDeleteYes: it's down to new lows today, and in the context of NASDAQ over 5000.
ReplyDeleteLet's be positive: how could they move differently and better?
1. A decent deal for LANI ROW rights could turn this around.
2. Put the FDA discussion on LANI top of the list of work priorities rather buying unloved biotech assets.
The lack of news on 1 and 2 suggests that the company itself is trying to quietly abandon its main compound. If that's the case, they should
3. Merge on good terms, but the constant destruction of the shareprice is making that hard to achieve; or
4. Return the cash to shareholders. We didn't sign up for the stuff they are doing or planning if it excludes LANI.They simply don't have enough cash to buy new compounds that are company making. Witness the Anaconda compound. And there aren't many new shareholders looking to get into the markets they seem interested in.
So, my question to myself is: are any of the above so dumb or outrageous or unrealistic as to be obviously wrong? Then why don't the major shareholders put this to the management? Sad and strange.
Have to wonder why there hasn't been a move on the company at these prices. Is the market discounting the pipeline or the management?
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