I tried replying to
@Davisite and
@Boffin99 and others who've discussed a partnership here, but I can't get the reply to work, so just posting my thoughts separately...
It feels like now, while we still have $20+ million in the bank, is the right time for Race to be trying to stitch up a partnership, especially with the current share price being as it is. It also sounds like AML, where our data is the most mature, is the right indication to be pursuing initially.
I feel if Damian is able to put together a good deal (for both Race and the prospective partner), including some up-front cash, it should give the market a number of reasons for a positive re-rate in the share price, including:
1) Giving some obvious and significant industry credibility to both Bisantrene and Race.
2) It would significantly reduce any near-term funding concerns.
3) Demonstrate that Damian has what it takes to get a deal over the line.
Even if it's not the greatest deal initially, an improved share price and financial position would mean the next deal(s) could be much better for Race, and they would be in indications where the upside is potentially much higher as well. For example a deal around the mBC trial which surely must be under heavy consideration... it would be hard to see another way of funding and running this trial within RACs financial and human resources (especially the share price and sentiment as they are), so why would they propose something along these lines otherwise?
Yes we'd no doubt have to give up a significant part of the AML opportunity in the deal but the benefits of spreading the risk (currently all being born by shareholders), as well as reduced likelihood of future share dilution (increased cash on hand and higher share price), and IMO improved chances of a successful outcome and reduced timeline through to commercialisation by having a bigger partner on board (rather than trying to go it alone) would go to a great extent to offset anything we give up.
So it sounds to me like Damian is making all of the right noises in the right places at the right time. Damian strikes me as genuine and someone whose integrity is important to him so I really do hope that these things are not being thrown around to try to keep us on the hook as some have speculated. It logically makes sense in so many ways to be doing what he says he is doing. Let's all hope he has the skills, relationships and support in place to turn it into reality.
(20min delay)