All reads well and things are progressing to plan. Great to hear.
My only concern at this stage is cash. They have $49m but are spending about $60m on research and admin, with some $15m+ in research rebates, etc... giving a burn rate of about $45m/yr (assuming research costs remain steady, but may increase with PMS now in the pipeline). Assuming they want at least 6mths runway this gives them until mid-year to figure out a solution, which is really only a deal or cap raise. Maybe this is what's driving the price down?
It will be interesting to see what they do here, with PKD being talked about with great interest and with regulatory approval for trials due in Feb, this may be the best opportunity to do a deal with big pharma, which they've said they'll need to do at some point as it's just too big for them to do alone. Feb to mid-year leaves plenty of time to do a deal....but do we want to give away a slice of what will be a very big pie vs doing a CR? Depends on the share price no doubt, but a deals been flagged, so it's not 0%. And, if they pull this off, then those selling down at the moment may well regret their decisions?
Interesting times, but as always a slow burn in pharma.... GLTA
PYC Price at posting:
$1.13 Sentiment: Hold Disclosure: Held
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