Worst Case Consideration, page-10

I honestly couldn't tell you right now, what I think we need in terms of a partner deal. I just know they have to get it right!

Partnering early could come with some positives as you mention, but might it mean we relinquish some decision-making control. Or leave value ($s) on the table compared to partnering when trials are more advanced and approval looks like a slam-dunk?

Likewise, partnering with a major BP org sounds epic and fitting for a drug with blockbuster capability - but what if....nightmare scenario...that company then reassesses it's sales effort of the drug because it impacts another major division of theirs (e.g. NSAIDs), or for other unseen political reasons. Of course I'm not saying this will happen, it's just a worst case scenario as per the thread title.

Are we better with a mid-size pharma org who are still capable of reaching all corners of the same market - but to whom Zilosul would represent potentially their biggest ever drug, and they therefore have a vested interest in putting their full efforts behind it. Plus PAR would have greater access to their boardroom, than we would with a Pfizer or J&J style of partner.

What is the structure of the deal for PAR, more up-front and a lower % of sales, or further dilution to get through all trials, regulatory approval etc but achieving a higher % of sales whatever they may be. What do those different arrangements do to the subsequent motivations of the partner? What risks do each option bring to PAR?

Lots to think about, and these might come down to line-ball, gut-feeling, decisions by the board. They have to get this stuff right. No-one needs to encourage me to be bullish, i'm as excited about this company as they come. It's just that, sometimes in life, even open-goals can be missed.

I don't mind the Winx analogy. On paper, we're a moral - for trials at least. However, i'm hoping we're the guys who backed her at $6 pre-noms on the futures market, and not the latecomers down the pub who take the $1.02 on raceday.