All....
let's pick at this in a little more detail (regarding what may or may not happen monday)
Quote from ASX ANN
My comments in red
The Confirmatory Data Readout Condition will be satisfied and the Confirmed Data Consideration
will be payable in the event that both of the following requirements are satisfied:
1. the Data Confirmatory Study shows that the COVID Algorithm performs with sensitivity at a
minimum of, and no less than 6% below, the 92% sensitivity reported in the March Results
and specificity at a minimum of, and no less than 9% below, the 80% specificity reported in
the March Results; and
2. the Data Confirmatory Study results are confirmed by an independent statistician (to be
agreed between ResApp and Pfizer)
(together, the Confirmatory Data Readout Condition). ie case 1 and 2
The percentages - ie 86% and 71% have been confirmed by RESAPP as the criteria - not 6% and 9% below current results.
The results of the Data Confirmation Study and the independent statistician review are expected
to be delivered on or around Monday, 20 June 2022. ResApp will announce the results once
known.
The Confirmatory Data Readout Condition may only be waived by Pfizer at its discretion.
Why the need for this last sentence ?
Why was this included ? - It implies that whatever the results, Pfizer can effectively ignore them.
There are two possible reasons for this:-
CASE A - the results come in under the threshold, but Pfizer may already have an unwritten agreement for FDA emergency approval. Which as posted previously by others, can increase their market in covid treatment drugs :- so they could say - yup all good Aussies
CASE B - the results come in within the threshold, but Pfizer don't have, or looking like having, any FDA emergency approval. SO they can walk away, sharpen their pencils and come back for another go. By which time Pfizer's competitors can say - thanks for all the work Pfizer, it's now our turn.
I have seen these seemingly innocuous throwaway lines in all sorts of contracts, and they can often be deal breakers, or dealmakers.
It is quite possible that TK gave the game away in today's publicity stunt....when there a was a brief reference to FDA
Of course - if there is more to this, and there is some FDA involvement etc etc, then the expert's report and valuation is redundant.
Getting interesting girls & guys - hold firm.........
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