Reflecting on this appointment and I think
@Zenox was the first to read between the lines when writing...
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It is definitely an interesting appointment and indicates to me that PAR may be looking to (at least partially) go it alone and sell and market Zilosul themselves, thus reaping higher profit margins. I'm sure they could/will still sign distribution deals as well, but it would be good to get some clarification from PAR on the sales / licensing strategy moving forward."
It's a really good point, and upon reflection I think PAR have sent a definite signal that they are willing, and - under Marco's leadership - able to go it alone (somewhat). Now, this might only be in certain territories or indications, but in appointing a man who's CV is a chronicle of aggressive early revenue growth, with new products and new teams; it's pretty clear that the PAR board of directors see an aggressive approach to marketing and monetising iPPS as a key
immediate-term challenge for the company.
My dominant thought upon realising this is....that's bloody exciting. Because what clues does this provide us of the BoD's confidence in Trial success? What clues does this provide us of the BoD's confidence in *expedited* Trial success? It's worth giving this some thought.
Sticking to OA for now, my feeling has always been that if PAR was to go it alone anywhere - it would be in Australia. We have the contacts, many doctors know the product via the TGA's SAS. We also have a readymade list of promoters with Chris Judd, Marc Ricciuto, Marc Murphy, Greg Williams, Andrew Walker, Simon White already publicly advocating the treatment and I believe all of them are also on the shareholders register. That's a lot of domestic influencer capital to work with. The media have also given it a push here and there. Once it's available it is an Aussie success story, and having lived here for 17 years now I know how much you folks love an Aussie success story! It just fits to go it alone here.
For everywhere else though (in OA) I think the perceived wisdom was that we would Partner. I still think this is the plan, but Marco's appointment has made me wonder.....when will we partner? Surely if all is going to plan...the further down the track PAR take Zilosul before partnering, the better the deal, right? I would think so. So, are they considering taking it all the way to registration and first sales before partnering in other regions?
When you start thinking like that, you quickly notice the elephant in the room. Finance. We do not have the cash to fund the drug to commercialisation. We eschewed the opportunity to raise cash at $2 post-IND, and the company is on record saying that they are seeking alternate means of financing. What does this say about the BoD's confidence in bringing in non-dilutive revenue? An MPS deal perhaps? One regional OA deal? Thereby keeping safe the jewel in the crown, the US/EU osteoarthritis deal, which will be the one which ultimately decides just how high this company can fly. Have they judged that the best way to maximise it's value is to take the drug all the way to commercialisation before partner in this mega-region? Will they even attempt to build a US-based team and ramp up sales for a year or two under Marco's stewardship before accepting a partner? And if they have gone that far, is it actually possible that they might go it alone in the worlds largest pharma market?
All just musings - but this appointment has really made me think. If it is what it hints at being, we could be in for a hair-raising, white-knuckle ride post Phase III trial success. I, for one, am here for it.
(20min delay)