There is no possible plan. They don't have enough cash to start again with another asset. They don't have the reputation to go to market for more funding. Market is dry now anyway. TBI programme is also cooked. I just can't see a way forward.
What should happen: they wind things up and return the $6m in a special dividend and close up shop swiftly. What will happen: Slowly piss away the remaining $6m over 1-2 years on salaries and "promising" preclinical work.
NYR Price at posting:
7.3¢ Sentiment: None Disclosure: Held
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