SYC said a few things that really stood out for me. He said several big and small companies were keeping a file on PTX , all were happy with the progress made. Then he said the company had taken PTX200 about as far as they could. It was probably time to pass it on. He also mentioned sponsored trials.
Sounds like he was shopping PTX200 around at JP Morgan. He also stated clearly that no deals were underway. Because he didn’t want chat rooms speculating about deals.
That’s got me thinking why did he say all of this . Can we assume he has shopped it to companies that would make a good fit for a sponsored trial or a licensing deal or even an outright sale. If PTX has run its race in regard to PTX200 he would surely be looking for an exit of some sort.
I can understand why he hoses down deal speculation as it’s likely nothing formal has started yet, that’s not to say we don’t have the for sale sign nailed up on the front fence.
One would think it would not take to long because it is so specialised for the right buyer to be found. Who ever that bound be would not take long to assess if PTX200 is a good fit.
The whole conversation seemed a bit incongruent around this point. Does anybody have any thoughts that might throw some light on where this goes from here.
PTX Price at posting:
5.4¢ Sentiment: Hold Disclosure: Held
