The Phase IIb will complete enrolment towards the end of month....

The Phase IIb will complete enrolment towards the end of month. Then the clock starts ticking. Our instinct is to think about the data from the company point of view, not to mention the patients and their families and last but not least, the shareholders point of view. But what about from the point of view of the prospective partner who will fund a confirmatory trial in the event of accelerated approval or a Phase III trial.

That's all part of the positive data, positive signal and negative data conundrum. How would Big Pharma or Biggish Biotech balance the risk versus reward in terms of a commitment towards a partnership deal? To go early or go later, that is the question. The best case upside is huge: accelerated approval, Pediatric Priority Review Voucher, orphan drug designation and blockbuster market potential. To go early, means positioning for success but to go late could mean missing out all together. If the data points towards accelerated approval then not only does the price rise dramatically but it becomes a casino. Everyone wants a winning hand.

Putting on my Big Pharma cap I would definitely go early. Further, I would have been in regular contact with Percheron management over the last 12 months to win them over that my outfit is the best fit for a partnership. So, the clock is ticking and funnily enough time is running out for them to ink the partnership deal before Data Day.