"Research-based pharmaceutical company Chemeq Ltd [ASX: CMQ] today announced that the US Food and Drug Administration (FDA) agrees that CHEMEQ(RTM) polymeric antimicrobial will be a "therapeutic breakthrough" and following further substantive information, will propose fast-tracking the company's application for the drug's approval".
Yes, I vividly remember that comment from the company. At the time, I was unable to find any corroboration of that statement. I emailed the company, asking for some sort of evidence that the FDA had, in fact, proposed fast tracking approval. I received a reply from them stating that they had written evidence but would not be releasing it to me or to the market. That, and a couple of other facts are what convinced me to sell at around $1.30. In hindsight the "wrong" decision, but at the time, based upon the facts to hand, the "right" decision.
That was back in either late 2001 or early 2002. I don't believe that I have seen any corroboration of the "fast track" statement to date. I am happy to be corrected if I have missed it.
CMQ Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
