In my opinion, most rational people would have to concede/agree that Starpharma’s three SPL7013 commercialised products (Fleurstat, condoms and Viraleze) have been commercial flops so far.
VivaGel BV/Fleurstat was for many years touted as being a company maker in it’s own right. This product was expected to produce rivers of gold which would then allow Starpharma to aggressively and perpetually fund development of in-house DEP drugs. Sadly this has not occurred.
So we turn to in-house DEP drug development. It is becoming apparent IMO that the lead drug DEP-Docetaxel will not be developed past this never-ending Phase 2 trial which CEO Fairley initially indicated would be complete in late 2018.) The other two internal drugs, who knows, but the completion of Phase 2 keeps getting pushed to the further and further to the right. So it’s possible IMO that these may not be progressed as expected or licenced out either.
Therefore, so much now relies on the AstraZeneca partnership more than ever before IMO. Most of Starpharma’s enterprise valuation is based on this promising partnership and collaboration. However and it’s a big however, the reality is that these AZD0466 trials are still in the Phase 1 part of the much touted ‘seamless’ Phase1/2 trials. Facts and stats back up that the majority of trials fall over before completing Phase 1 because of unexpected issues.
I truly hope that AstraZeneca and Starpharma progress one or two AZD0466 trials into Phase 2. This would be a massive milestone and catalyst. But until then, Starpharma IMO are heavily dependent on AstraZeneca to justify the current market capitalisation.
God help the share price is AstraZeneca suspend or terminate even one AZD0466 trial. Food for thought anyway.
GLTAH
SPL Price at posting:
56.0¢ Sentiment: Sell Disclosure: Not Held
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