It would be quite rare indeed for any type of partnering or license deal to eventuate until something reached at least the end of phase ii trials and typically most would wait until successful phase iii data was released. We have not yet begun phase I trials.
Trials are extremely expensive and we have no money.
The strategy to date is prudent but indeed slow. Diagnostic bio marker s and evolis are the company's strategy and one I agree with. Diagnostics are an easier path to market, as we have achieved with cxbladder. Evolis will be the main cash cow though. And if we achieve anything resembling our Australian or Japanese roll outs then we will be on a very good wicket.
The only problem we really face - which Mal may have good cause to be grumpy about is the amount of time left on our patents given we are far from starting even 1 trial... however I believe we may be able to extend our patents or file a variation of a patent to extend its life. I might have to ask a patent attorney more about that...
However I feel evolis will be enough to justify a market cap north of where we sit by many multiples.
The other promising thing we have going for us is the comprehensiveness of our midkine patent portfolio. It's one of the things I really liked about cry. Somebody could be tempted to buy the midkine arm of the business (now that they've been separated) if they thought midkine held genuine significance, purely to secure the patent portfolio.
CDY Price at posting:
2.9¢ Sentiment: Hold Disclosure: Held
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