Phase 2a takes 12 weeks to complete. Result analysis and interpretation will take 3-5 months. I think this analysis period would also include Acromegaly, Pituitary Cancer and Sight Disorder.
The actual trial should complete by Oct if it starts mid year.
That's why 'Early to mid 2013' is being offered as the timeframe for the results of Phase 2a. This could also be the period when deals with big Phama are made. I won't be surprised that a licensing agreement is made before the result is out.
I think Phase 2a cost is around $5m, which is not a big sum to raise through SI placement. So far, Mark Diamond didn't even put the funding as a particularly important issue. So we should see it as that.
However, if the Pharma is indeed Pfizer, they could well be offering to take over of ATL1103 for Acromegaly with a similar deal to the one they have made last November with Excalliard. The Excalliard take over is estimated to be between $44m to $88m.
With the patent of combined therapy with Somavert as well as the development path to be a stand alone therapy, Strategically, ATL1103 is a perfect fit with Pfizer. Not only Pfizer can protect its virtual monopoly on Acromegaly, it can also potentially improve on the offering without the side effects of Somavert.
Of course ANP will try to hold out for a better payout until after Phase 2a, unless there is a really good offer before Phase 2 trial.
From now till the start of Phase 2 trial, we should expect news from Afandin on the funding partner for ATL1101 for prostate cancer. This will add additional value to ANP.
IMO, the current MC of $20m with 3 antisense compounds, 2 of which is in Phase 2, ANP is significantly undervalued. Won't be long before the market recognise this. It may need to take a Pharma deal on one of the three compounds to wake it up.
JIMO.
DYOR
ANP Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
