I am new to HotCopper, but I am a long-term investor in Novogen/Marshall.
I do not view the annoncement as negative. The following is my overall view that I had posted on the NVGN Yahoo Finance board earlier.
We are in a difficult position..between a dog and a lamppost.and the dog piss is not helping my skin right now even though I have been taking Promensil/Trinovin for years! (grin)
We are still paying the price for past mistakes and incompetence. Besides 1) not raising enough $$$ in 2003/2004, 2) not doing more PI & PII trials for PXD and others in the pipeline for various indications, 3) not having a qualified and credible CEO and CSO/CMO, 4) not partnering earlier, and 4) not saying NO to a difficult trial structure for OVATURE, a major mistake the Company has made has been to not completely vet and formally publish its trial and study results in peer reviewed venues..an example of being penny wise and dollar foolish which has not helped the Companys credibility in all relevant circles.
As much as I and many others are so tired of delays, I am glad the Company did the right thing in terms of preserving data integrity and communicating with its shareholders and other stakeholders. In that regard, I do not view it as bad news.just another example of paying the price for poor management of expectations up to today. It is critical, however, that the OVATURE results to be presented are credible.
Overall, I am more positive than I was a few months ago for the following reasons:
1) I look forward to the OVATURE, the Yale PXD+Docetaxel PII, and the Yale PXD prostate results. I have not seen anything that has made me doubt that PXDs safety and efficacy. Remember it is not only time of progression-free state that is important, but more important, it is toxicity (or lack thereof), reduction of the negative side effects of chemo, quality of life and overall survival. I believe we have a very unique family of drugs for which we have just scratched the surface it terms of their potential. I believe one day we will all thank Graham Kelly for his discovery.
2) Rational steps are being taken to move Triphendiol and NV128 along the preclinical/clinical development path.
3) It looks like the board of directors of Novogen and Marshall (including Bill Reuckert and Leah Cann) are taking the right steps to bring in credible management and other board members that will be needed to restructure the Company (I recommend to collapse it and bring it to the US.), turn it around and achieve its potential.
Regards,
Shere Khan
NRT Price at posting:
66.1¢ Sentiment: LT Buy Disclosure: Held
