I think around $3.5 mill rebate can be expected, where did the $5.5 mill estimate come from?
The drug he is trying to get hold of is fairly late stage, so will be quite expensive, but obviously that comes with the promise of being in trials very quickly and hence getting investor support. The deal will need to be back loaded, with payments to the vendor on success.
Garner is "clearly" quite risk averse, raising before trial results, working the phones hard to get the vote even though he was always a shoe in etc etc , so no surprise he is also cutting costs/streamlining the company so it can go into a holding pattern for a while until the right opportunity eventuates if needed
The issue in the meantime is PVL and friends rights sizing their positions, PVL looks distressed for mine, SIT written off already , this early fail won't be easy to bounce back from professionally
PER Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
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