Went and checked the sheep with the kids off school today and have come back to try get my head around these deals :/
Firstly - $$$
GDC-0084 is costing US $5m from my reading which is $6.57m AUD - Glioblast is $600k in cash and the rest in shares so the deals will cost Novogen $7.2m roughly in cash out of $33mAUD as of June 30 - leaving a balance of just say $25mAUD but June 30 but given that was several months ago the real cash position may be a lot closer to $20mAUD after the deals are paid for.
What did Novogen get -
1. Its now a clinical stage company with a compound that has already passed Phase 1
2. It has the expertise from the Glioblast purchase to help move GDC-0084 forward and new shareholders to boot and possibly this may also help with Trilexium or even possibly one of the other anologues in getting through the BBB - though back in June last year this was one of the last announcements made with GK still both Chairman & CEO..... maybe a new set eyes on the problem might overcome whatever the possible issue with Trilexium may have been given it seemed to get put on the never never?
Looks like we'll have to wait for Edison to break the numbers down for us in regard these purchases and what it means in detail as to when we'll likely be facing a CR?
NRT Price at posting:
9.0¢ Sentiment: Buy Disclosure: Held
