Hi DS, Think that is a very solid assessment. I think PYC in the...

Hi DS,
Think that is a very solid assessment. I think PYC in the previous years were way too overly optimistic about the collaboration business model, thinking they could be like PeptiDream, and that model just has not played out well for them, and the reality is for some companies it just doesnt for whatever reason, but it is nice to see them get everything realigned and get the funds (for 2-3 years) and focus on building an internal pipeline of assets, that could give them real business growth opportunities. If the alliance business comes around, all the better...but don't pin the business to it. I hope I am wrong and they can get some concrete development timelines and really get something to an IND stage in the next 2-3 years, and really have assets that they could partner, out-license, or develop stage by stage to higher valuation points. They need to show that the platform and just the staff and management itself can actually develop something that could be a drug.

Agree with you on the information to investors, basically it is a double-edged sword, and you will never make everyone happy.....i dont like that they dont announce to market when a deal is done and terminated, but often the partner doesn't want you to announce something like that anyways, and sometimes you just don't know when the partner ceases work.....but that has been my issue with PYC in the past, that they were just doing a discovery step like a CRO for a partner, and whatever they found they passed to the partner in a hands off style, and then the wait for feedback game started. I know some of the other peptide companies, including PeptiDream, are much more involved in not just discovery but actual development and optimization and working closely with the partner through not just discovery but development and GLP/tox, animal testing stages, that keeps the lines of communication better, and ties you to the partner, making it harder for them to walk. Aileron did that pretty well in the past, and Protogonist is doing that well, Ensemble seems to be doing that when they actually have been positive results. Not saying it is easy, but you have to be more than just a hit finding company.....very little money it (small upfront, little R&D funding, and then everything back-loaded, so looks like a big deal, but never see 99% of it. Just my opinion. I have a feeling that Paul and his world tour should come to an end, can't imagine he has any credibility left after presenting 10-15 times a year for the last 5 years with an ever changing story and little progress. An executive shake-up at PYC I think would go a long way.......just my 2 cents.