"Can the directors seriously believe a deal is about to be done 5 months ago and still be waiting??
History says it is quite possible the length of negotiations to finalise deals has always been over a long timeframe. In August 2009 the company announced negotiations with a number of large pharmaceutical companies hade reached a "very advanced stage" those next 3 deals (Roche, AZ, Pfizer) from the point of that update where secured 4, 12 & 18 months later respectively. It is increasingly frustrating for shareholders to comprehend the length of time required but i'd also say mangaement have very little weight in determining when the ink is put to paper.
World of biotechs is always slow & while new deals are certainly encouraging & give insight as to what may come in the future they really don't offer any immediate value without upfront financial attachments. Milestones are a long way down the path with none yet moved to a signifcant point despit partnerships already being initated 18-36 months ago although hopefully some of those early collaborations are getting closer to delivering on licensing payments & moving out of the lab & into the clinic under one of the big name banners.
and as always the black swan can appear out of nowhere :-)
PYC Price at posting:
2.6¢ Sentiment: None Disclosure: Held
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