Fair enough on the selling - there is no doubt some uncertainty on revenue and milestone payments.
Re the buyback
- You're actually a bit wrong here. Ignore what LittleT said. JP had already said he would consider a buyback if funds allowed for it. At that time they were not sure of what was going to be required in Ph3's and so could not commit to a buyback. Getting an unexpected $50M USD from the PRV sale changed this. It was ancillary to Ph3 needs and thus company felt comfortable announcing a buyback. This was all telegraphed by JP and it was very clear why the BB was announced when it was. Nothing to do with LittleT, all to do with JP comments. JP has since confirmed this specifically.
Re Ph3 progress
- Maybe you haven't had much dealings with bureaucracy but JP said they 'hoped' to have agreed on endpoints with FDA and updated market by the 'end of the year'. Given this was a hope and we have more than 5 weeks left vs the stated hopeful timeframe this doesn't seem like any kind of miss or cause for concern. Even if we don't get update by end of year I will just assume the usual delays that can go with dealing with bureaucracy. FDA could even be in 'caretaker mode' like what happens here when there is an elected change of government and little in the way of advancements or approvals get done.
Anyway good luck to you, but I think some of your points are a bit misguided.
NEU Price at posting:
$12.36 Sentiment: Buy Disclosure: Held
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