On April 30 the Company announced top line results from the study. The PR indicated that closing was subject to “certain closing conditions, including time to analyze the results from this COVID-19 ARDS trial”. During a live webcast just after the PR, an analyst asked for more detail on how long to closing. That's when SI said he thought Novartis would need “several weeks” to come to a decision.
I am afraid Left-e has the bull by the horns on this one as the word "several" was never used .... SI originally said "over the next few weeks" in response to the analyst comment on 30 April and then made it worse on the 3rd of June by saying "that in a very short term, we will be able to update the market on exactly the timelines around that collaboration" .... both CC's just gave the non holders and bashers ammunition to flood the forums with reminders of these two comments and subsequently how much time has passed since
30 April, 2021
John Hester, Bell Potter:
And, you say in due course, is that this calendar year?
Dr. Silviu Itescu:
Oh, over the next few weeks, we expect.
3 June, 2021
Sure. Thank you. OK. Look, as I noted, we're in very close discussions with the Novartis team.
And as we analyze the data from the COVID ARDS trial, they analyze it with us or they received both our analysis and our detailed data sets. And we remain in very close discussions, and I would expect that in a very short term, we will be able to update the market on exactly the timelines around that collaboration. With respect to the read-through on non-COVID ARDS, I think those items become clearer as we see more and more data. So first and foremost, as I mentioned earlier, the majority of patients, as many as 70% to 80% are ventilated patients with influenza ARDS even in epidemic times are under the age of 65.
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- MSB website indicates Novartis agreement as conditions met.
MSB website indicates Novartis agreement as conditions met., page-65
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