Management then provide guidance they are seeking a sample size of 10 - 15 patients. Before submission to FDA for a registrational trial.
we were told to expect a further Azercel update in 2024.
Mid Feb 2025 they drop their update. 4 CR, 2 SD, 1 PD. 7 patients dosed. So they recruited 3 patients over 5.5 months. At this run rate August 2025 to hit 10 patient sample size. Or January 2026 to hit 13 patients.
Given their $20M per quarter cash burn. Shareholder equity is going to take a battering over 2025. And then one still has wait out the phase 2 registrational trial process and outcomes, with any commercial deal to come after that.
At the end of the day, despite Azercel showing promise. Management continually over promise and under deliver. They re way too slow to enroll and complete trials. They re spending way above their means. And they seem unable to raise sufficient to keep this rolling.
This was originally sold to shareholders as a 12 months play in August 2023 when they purchased Azercel. My recommendation is for people to read this companies announcement history and learn their pattern behaviour.
IMO, DYOR, Not advice.
IMU Price at posting:
4.3¢ Sentiment: None Disclosure: Not Held
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