Shocked that they have made this decision and destroyed the stock prior to the initial review of Cohort 4 efficacy. Management incompetence in the extreme as the transition to Hep B could have been managed infinitely better. Stubbings and Co are completely redundant. The stock is now another write-off for me based on my entry price.
The only positives now are
HCV was was always a feeder project anyway with almost no commercial value on its own
Hep B should start at Cohort 4 equivalent levels
In vivo data for Hep B is out in the next couple of weeks or so
Cohort 4 data may still provide efficacy
I believe the company has about $25mil cash with a MC now of $18mil
They still believe Hep B is a valid commercial opportunity
Should Cohort 4 show efficacy than this is obviously a great buying opportunity but right now it feels like I should retire permanently to the total loser room. I was waiting purely for the operational update due next week and this blows up out of nowhere. I wonder what Sabby will do as they have been acquiring everything RA capital sold. Surely that weren't accumulating for the HCV commercial opportunity?
In theory nothing much as changed other than Peter's belief that their HCV program had some commercial opportunity was proven to be totally wrong.
Shareholders should also be asking as many questions about Cohort 4 efficacy.
BLT Price at posting:
13.5¢ Sentiment: None Disclosure: Held
