golden opportunity ?

Market Cap - $35M

Cash 31/3 - $18.5m

I know in the past Avexa had some issue but having a look over it looks like the board shake-up & recent events may indeed be turning the leaf ?

Apricitabine - multi drug resistant HIV

FDA indicated immediate PhaseIII with near term approval with credit for significant amount of previous clinical studies granted.

Bristol-Myers Squibb licensed HIV compound Festinavir from Jap biotech for $286 million in upfront and milestone payments, plus potential royalties on worldwide sales & it's only in Phase II.


Antibacterials
Swiss based Valveia Pharmaceuticals GmbH has licensed Avexa's antibacterial portfolio with revenues of up to $US65 million in milestone payments and royalties. Valveia takes on board all future costs on the programs with the exception of Avexa controlling the IP.

Investment
24% in Allied Medical now taken over by BOD with a swag of ex. FMG heavy weights in place.


It looks like an incredibly good opportunity at this level with plenty of cash in bank - 1 Key program with imminent Phase III in key market. Antibacterial out-licensed providing potential upside in excess of 200% current market cap but with no further cash input. BOD stake.

Am i missing something here ?