If you want a deal wrapped up by early June, terms would have to...

If you want a deal wrapped up by early June, terms would have to be agreed early May by the C Suite before additional work by the lawyers and Boards to have it done in time @George1972

Thanks George,
All the relevant data is in except monkey toxicology that nobody is generally interested in, except apparently Australian investors, so in accordance with your timeline it looks like terms agreed by early May. Those waiting for the data drop for Phase IIb will presumably wait too long because Percheron will want to offset risk because there is no sure thing in life let alone biotech, and presumably they will want to meet the FDA with their clinical trial partner in order to discuss next steps.

The time for due diligence is probably winding up albeit it could be conditional upon a green light in relation to the monkey toxicology data. Do you have an extension to your timeline in relation to a market announcement? I note that the AGM will fall about the expected release date for the Phase IIb but that is dependent upon finalising enrolment by end of quarter.