Booty,
IMO only, but I think a further small capital raing to simply keep the company limping along for the next 12/12 would not be seen as attractive by investors without some clear indication of the progress of negotiations with big pharma.
I agree with Wasa that if a white knight partner came along, no further capital raising would be required. I really think the next 3-6/12 will make or break this stock. Accordingly, I've reduced my position, simply as a means of risk exposure reduction.
I remain confident in the science that Prana has behind it....truth is though, many other companies are looking at other, perhaps equally promising ways to skin this particular cat, and the longer the delay with PBT, the greater the competitive disadvantage that develops compared to the other approaches.
The lag time from announcing a partnership to the initiation of a clinical trial is always significant, notwithstanding the fact that I'm sure PBT have a clinical trial protocol ready and waiting to go.
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