The results were even better than the 28 day results. 75% survival rate is higher than the day 28 response rate of 69% (which was already well above the required response rate to meet primary endpoint). That means survival for an extra 6% who didn't show sufficient response at day 28, but obviously had improved by day 100. Possibly because they just fell slightly short of the required response at day 28.
So why sell now?
Debt funding in place to cover cash burn thru to next year.
Negotiations with potential partners just got easier.
Only stem cell company in the world with an FDA phase III trial that has met its primary endpoint
No other approved treatment for a kids' disease with a terrible death rate - so accelerated approval got to be an even better chance after today
24.5m short as of 1 week ago = 5.16% of company. That's hard to cover without pushing it up. Average monthly turnover 24.8m shares from Dec to May 2018. So far this month only 11m. April was 10m, May was 18m. What pushed the monthly average up to 24.8m? Feb and Mar volumes averaged 40m each as price went from a low of just under $1.20 to a high above $2.00.
Most US analyst valuations (and Coppo) are looking for it to at least double in price. My rough analysis of the forecast profits in 3 years says it should do much better than that if it continues to derisk the technology and can manage to fund the cash burn - just waiting for a partner now!
SI has done a great job so far - the man's a pioneer and has succeeded in funding this company and advancing the technology against great odds. I think now's a good time to acknowledge that and I hope he gets a standing ovation at the conference
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The results were even better than the 28 day results. 75%...
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