I agree in a sense Leferve but the effect of leverage at this point on expected & long awaited news ? I'd say a signifcant( & unexpected) cash component, not just the standard $1-1.5M start up fee is needed for any real value to be seen in share price appreciation unless of course traders take it for a ride on a quiet market day. Milestones deals are great but they are very long time spans before they deliver anything out of those as we know. The company already has $500M+ in potential milestones accumulated from initiating the 4 deals over a 3 year period & yet we are still to see anything signifcant come from those. Of course we'd like to see differently but really any new deal without the cash component or milestone in the same pocket change category as we've seen is probably only offering the value of the company continuing to build a warchest for further down the track. Hopefull to see something exciting but i do think 2013 will be far more signifcant & at the moment i'd be happy that they are just able to keep on top of cash reserves until that point.
PYC Price at posting:
2.4¢ Sentiment: None Disclosure: Held
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