Thanks Torpy, really good to listen to that.
It definitely sounds like major pharma companies are keen to do a deal on rights for US and Europe together, and beyond that we will be free to cut regional deals. US/Europe is 70% of the global pharma marketplace concentrated in 2 regions. This is obviously the jewel in our crown, and it's great to hear Paul talk about not accepting the first proposals that come across his desk - but instead maximising value for shareholders. When I think of company-making announcements, this US/Europe deal sits right alongside Zilosul getting a label for me. It may not be the first deal, but it'll be the one that really matters. PARs financial future will be secured on that day. A special dividend would be a nice touch when the up-front payment hits too, just saying.
As well as showing us that lovely blue-sky vista, however, I think Paul may also have prepped us for an upcoming CR. Yes, a CR isn't necessary right now, with up to 10 quarters of cash on hand - but that's not how it works. You don't raise when you run out of money, unless you reeeallly want to see a depressed share price. I think Paul and the team do want to have visibly enough cash on hand to fully complete trials alone. Whether it is ultimately required, this gives us much-needed ballast for the waters we are entering. Personally, I 100% support this happening. I think it allows us to negotiate with prospective partners from a position of strength, it shows unshakeable faith in future clinical trial results from the company, and i'm willing to bet that whatever it removes in dilution now, it adds in folds to the $ value of subsequent deals compared to those likely to be struck were we to negotiate from a position of dwindling cash and depressed SP. They are currently doing the sums, apparently, but I think it's looking quite probable and i'm going to guess that the next trading halt we see is a moderately-sized CR cornerstoned by the usuals (although an international name or two would be nice), but with a retail component this time. This is just my guess, but maybe the market has already thought the same.
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