nituc, I think we can expect detailed announcements of CBio's plans for fixing the problems with the RA formulation and doing a lupus trial only after the new Board meets to set the company's strategy. I am told this will happen around the middle of next month.
Who knows, there might be other Pharmas interested now that Novo has walked away. I would imagine the new Board will check that out after it has put a strategy in place.
Three other things that give me hope re lupus:
1. Given that it is a deadly disease and there is only one other drug out there (which has safety problems and is not that effective), if the first lupus trial shows XToll is effective and safe the regulators should fast track it to market. 2. As lupus is an orphan drug indication, the company should be able to get non-dilutive government grants. 3. Because there are no other effective treatments, IV is a commercially acceptable method of delivery for lupus patients, so the formulation problem is irrelevant - patients will get the pure drug intravenously.
I agree that the share price has to get much higher before the company does any capital raisings, but with $10 million cash the new Board has time to achieve that.
CBZ Price at posting:
8.4¢ Sentiment: LT Buy Disclosure: Held
