I understand the euphoria generated by a buoyant share price but this $100 million takeover conjecture ignores a crucial point - DATA! The phase 2a data was a) not statistically significant, and b) showed that BIT225 is 50 to 1000 times less potent than protease inhibitors (perfectly understandable because of its mechanism of action, and not necessarily a huge problem, but it isn't going to be a 'headline drug' in HCV with those figures). At the very least, phase 2b data is going to be required with a significantly greater number of patients before you can give any great credibility to the drug in HCV. Such a trial costs on average $23 million (see link below) so the current cash situation needs to be viewed in that regard. Unless the HIV results are spectacular, for the company to survive it will need to either capital raise, or go into a partnership arrangement for the next trial stage.
http://www.fdareview.org/approval_process.shtml
BIT Price at posting:
14.0¢ Sentiment: None Disclosure: Not Held
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