Nick Woolf, newly appointed CFO and VP of Corporate Development has made a good start - purchasing 600,000 shares on market. Either he can continue to support the share price by buying more shares or find some other investors.
Re-reading the October 21, 2010 announcement I noted that Dr Haselbeck from Roche also commented;
"We now need to examine the results of Phylogica's thorough research and determine the best way of applying it to our drug development programs."
Roche will exercise the option agreement worth 8 figures. Phylogica has discovered the 'next step-change in medicine,' the pathway to intracellular drug delivery. If Roche decline, the peptide candidates which have been discovered in the Roche collaboration, will be eagerly snapped up by other leading pharmaceutical players. Fear of missing out and delivering a sea change benefit to competitors will drive the transaction. Read between the lines and see the rising boardroom tension in big pharma circles in the biologics revolution. Melodramatic?
The media release by Roche for the Ausbiotech 2010 Congress publicly cements the long term ties with Phylogica. Woolf will undoubtedly find deep pocketed investors who grasp the potential housed in the phylomer peptide libraries in Perth. In the twinkling of an eye, however, sellers will all dry up.
PYC Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
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