No we didn’t know this stuff. We knew there was a meeting but not specifically an outcome.
As I mentioned a few weeks ago, I discovered by experience with another company that there’s a school of thought that goes like this: even if the meeting seemed friendly, don’t make an announcement until the formal minutes come out. It’s one thing for them to seem friendly and sympathetic in the room, another thing for them to be supportive in the paperwork.
The minutes can apparently take several weeks, so I’m not surprised at the delay until this ann. I can understand if the team were positive at the AGM in a “we think the meeting went well” sort of way, but I think they did the right thing in waiting to make an ann until they knew for sure.
As always, it may do stuff all for the share price despite being unequivocally good news (as far as I can tell). Now, without wanting to sound like a downer, all they have to do is make sure they set up the trial absolutely perfectly so that the Ph III result makes the FDA happy. Also, timelines: let’s say they knock over the trial by the end of 2020, it still takes time to do the NDA submission and get the FDA to process it. If I were optimistic I’d say end 2021. If I were realistic I’d say 2022.
But still, Ph II is usually where trials fail. I don’t know the statistics for this kind of product, but I wonder if the market will just have the psychology of “Phase II good” and take some sort of interest.
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