RE:1 Patient enrolled per month..All of us are frustrated with the lack of performance so far. Recent events:
- lost 70% of Dialco for zero and no disclosure so we have no idea what happened.
- Tigris trial now at 50 of the 150 and still 40 short of the interim target.
- management and the BOD seem to care less about keeping their shareholders properly informed.
- management doesn't respond to requests for information and IR appears to be the same.
All of this would make any sane investor contemplate getting out. This looks like the corporate version of "Groundhog Day".
But no way am I selling and may add more. I now have zero faith and respect for management and the BOD. What thrills me to no end is Baxter - through KidneyCo - is committed to EAA/PMX. It's now part of their strategy and they see it as a done deal. And their time frame is short as they are in the midst of creating value for Baxter shareholders. So when a major wants your product and has the wallet capable of making an offer you can't refuse and they have a tight time frame I am happy. This is now driven by Baxter/KidneyCo and their timing. If Spectral crosses the finish line fine. If they don't get there in Baxter's timeline Baxter will just buy and finish it.
What do you think Toray will say if Baxter says I will buy and finish the trial? And Birch Hill and the Alberta group? This will cross the finish line likely this year one way or another. The only question is does Baxter/KidneyCo buy a completed phase 3 FDA approved product or one that is partially done with results that virtually assure success? So do we get paid fully or partially by Baxter/KidneyCo in 2023? Either way it'll be an attractive number.