The presentation at the Australian Microcap Investment Conference by the CEO in his first public outing can be accessed from a link on the AdAlta website. Straightaway, however, they will have to update their presentation slides. The market benchmarks slide needs revision with Promedior announcing that they have been acquired by Roche for US$1.4B including US$390m upfront. BMS let them go having spent US$150m upfront in August 2015. Nice little earner.
Whats it matter anyway unless you are the happy campers invested in Promedior? It does tell us something about the Big Pharma appetite for novel treatments for IPF. It also suggests that the value in promising IPF treatments is rising particularly where there is evidence of 'promising early clinical trial data'. AdAlta itself is going into the clinic so hopefully we will see some of those types of inflexion points.
1AD Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)