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11:29
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Originally posted by CatalystDriven:
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A brutal announcement, although like many have said above its not all lost, with $23M in the bank and just ~$1M annual overheads and a couple M coming back in R&D refunds, they can tread water here for 6 months and find their way through an accelerated trial. Whether that's for a $700M EU market rather than a $1B market with other drugs like Ozempic out there, that is yet to be seen. Add TBI afterwards for a leveraged exit value upon IIH success Phase III, they could still sell for a few hundred million to a company already manufacturing similar GLP products with clear acquisition synergies.
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It’s extremely poor to throw this to the market a couple of days after they put out a PS announcement on TBI.
(20min delay)