Well I said they would do a CR in late summer, but didn't think...

Well I said they would do a CR in late summer, but didn't think July, but whatever, I have to say I am actually impressed to hear that they are raising so much, and think raising this kind of money is what they needed. They need to get the constant CR hangover out of the way. Guess we will have to see how the whole take-up plays out, but that they couldn't raise money from anyone but Hockings is concerning to me, and the fact that Hopkins didn't take up his full allotment, after taking as much money out of this company as they have, shows a lack of belief. Executives should have taken up their fulls, if just for image sake, not like they can't just increase their salary to cover it anyways, which they have been doing for years.

At least they now have money to finally see if they can come up with a real business plan and strategy for the company, because thus far, it has looked like an academic lab. As Andrew has said many times, their deals are not even covering their costs....their straight POC deals, and since all have walked....they dont serve as indicators of success, but indicators of failure. 4 POC deals and none of them could turn into an actual collaboration deal. The excitement in peptides is what brought the companies to the door, and some took a look, but PYC clearly couldnt deliver. I dont see anything happening with Genentech either, guess it already over....god knows PYC is never going to tell you that anyways, and will some how paint it as a success.

PYC has averaged $700K in revenue for the last 3 years. Just cannot work that way, not unless you are driving internal stuff, but they have only now started talking about that, years and years away, and little faith that management can do it....no drug experience...just academics. Is a private company better??

The comparisons to PeptiDream are silly. PeptiDream had $25million in revenue from collaborations (not share sales), and they are saying it is growing....they had $10M in net profit, have $70M in cash, and announced first collaboration program should enter clinical trials in early 2016 with more to come......so they are not even comparable. Also, RA pharma just raised $60M to take their first compound into the clinic early next year....so the so called peers of PYC are actually finding drugs.....not looking to spend the next 2 years to get to a pre-clinical stage....like PYC just proposed.....i think they have a number of years until they get something toward the clinic, so hopefully they use the new cash to focus on that....i don't see the collaboration business generating anything, and it seems they would be better off staying at hoe and focusing on the science....not sure how the CSO can direct anything when he is out of the country 2 weeks a month....

If you were ever gonna take a punt on this company though, this would be the time.....any surprise news could send it northward.....