The ducks do indeed seem to be lining up here.
We now have the final regulatory approval for our headline Phase 2 clinical trial for IRX-211.
We have batch manufacturing locked in (who knows it could have already started?). But we know it will accommodate patient enrolment and dosing within Q3 which starts in but a few short weeks!
At this stage i presume the CRO will largely take over the trial administration.
As others have pointed out, a measly $7M valuation for a company with the assets that we do it inconceivable. For goodness sake, the company indicates this expanded Phase 2 trial may be all that is required to gain a NDA from the FDA. And where does that leave our valuation? With an NDA, can you imagine the conga line of suitors wanting to take us out? I mean you see take over offers of $1Billion just for companies with good prospects and successful Phase 2 trials, let alone a company that has already received a NDA!!!!
And the best part is that all the funding is already secured to get us to that point. $38.5M or funding pathway to be exact!! That means very little dilution and those that currently hold the majority of the register will be holding onto highly in demand shares and calling the shots.
The irony is that up until this stage it couldn't be further from the truth. No buyers, a handful of sellers and an anaemic market.
One gets the feeling that is all about to change IMO.
Fingers crossed.
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