first 6 questions and answers as requestedHere are a few questions for you.
1) When will the complete results of Phase one be published? You told me earlier that the results would be published soon in a scientific magazine and that no data would be released until then. What is the name of the magazine? When will it be published and the magazine available to the public?
This is correct, like all companies for clinical data to be published in a journal, the company cannot disclose the full data until the publication is released. As you probably understand, it is very advantageous for us to have our clinical data published in a reputable journal. We will definitely release when this occurs and we expect this to be in the first half of the year.
2) When will the application for Phase two be made?
In the first quarter of 2010 we began to work on the regulatory dossier for the phase II clinical trial which will be submitted to Health Canada in the following months. We expect to initiate a phase II clinical trial in the second half of 2010 and results would be available in the fourth quarter of 2010. We will announce this event once it occurs.
3) Will you confirm that it takes 30 to 45 days to get the approval? Would you be able to re-phrase this question. 30 to 45 days from what?
4) Is it appropriate to anticipate that phase two will start sometime in August or September subject to the approval?
See answer from question 2
5) How many MOU have been signed? How many are being negotiated?
We have currently signed 3 MOUs (Ajanta, Tabuk, NITT Partners) and an agreement with Genopole in France. Discussions with all these parties plus others are currently ongoing.
6) Last Fall, when Medicago secured through a Private Placement enough funds to function for 18 months, 10,000,000 warrants were issued at $1.00. Can you tell me whether or not Medicago is counting on the exercice of these warrants in its application to secure funding beyond the 18 months?
With our current cash position, we have the resources to continue our clinical development into 2011. We are well aware of all the warrants that are currently outstanding. With us securing the recent equity line we now have the advantage of flexibility to allow us to see what occurs in the future.