Yes I agree with you that keeping the cost plus legal cost related to Phase 3 in mind, it is better to have a partner.
I have followed Nogogen from long time and it has disappointed badly in past(like BTA, IBA). Some thing need to change drastically to make sure past mistakes are not repeated.
"At the 2003 AGM in Sydney; Naughton stated during formal session that NVGN would NEVER conduct a Phase 3 without a partner."
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