Well, I have now seen the Proactive PR interview and reading between the lines Dr Oldham seems to me to be saying they only have one shot left in the locker and they are afraid of firing it at the wrong target. Especially with the SP so low that further funds could only be raised at the price of devastating dilution.
All starts to look a bit binary.
Maybe a partner will come through, although it would be surprising if the deal was very attractive in eye or kidney, given the very early stage of development of those indications. (Even lung isn't far along. It wasn't expected to go into 1b/2a trials until the end of next year, at the earliest. And that will be later still now, I suppose, given AdAlta has gone into a development standstill.) Maybe more than one partnership agreement will come through. Maybe AdAlta will be able to get enough funds from partners to move forward on several fronts at once. And all will be well.
But my guess now is that the smell of blood will have everyone hanging back to drive the hardest possible bargain or, maybe, just to spin the company along until time runs out and they can pick up the IP out of the wreckage.
1AD Price at posting:
4.8¢ Sentiment: Sell Disclosure: Not Held
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