We are a long way away from the suggestion that former CEO/MD JG and Chairman IR were making eighteen months or longer ago, that the "pivotal" agile trial put Paxalisib on a pathway to registration.
While there is very encouraging preliminary data coming out of the plethora of stage I and II trials for Paxalisib, all the information released so far is interim, and often from low numbers of participants and generally indicate that further trials are needed to determine drug combination and optimal treatment regimes.
The market also anticipates that the agile results will not provide a clear path to market.
Of course, the market is therefor weary of sustaining capital requirements and the potential that the company will tap the ATM facility on any uptick in price.
The stock has become susceptible to shorting on NASDAQ especially while it is trading below the NASDAQ minimum allowed price of $1 per security.
Shareholders haven't really heard anything from Friend about strategy. Management just seems to be praying that positive interim data will buoy sentiment and the only funding option Friends has mentioned is continued use of the ATM facility.
There is a suggestion amongst shareholders that positive data might lead to more orphan drug designations and/or a successful application for that fast track voucher thingy which will be worth a few million given they have sold in the past for up to $100M.
As a shareholder, other than waiting for more trial results to come through I don't understand what is next. Are we waiting for Agile final results? Is that sensible? We've heard a plethora of news but what's the strategy now? Is it time to on-license Paxailisib to someone who can afford to fund it to registration?
KZA Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
