RE:SPCEO1 & WINOI've been pretty consistent along the lines of what SPCEO also said --they are doing what they can which is making sure sales keep growing and they are very careful on all expenses. Building the financial case was somewhat secondary when they pursued the pipeline RD assets, which is natural for a biotech. But those financials are the way to rebuild shareholder value. The pipelines reset to early stage. There is still the ability for the science to have value, possible large, but it needs success in real life, money and partners possibly. So focusing on sales growth is key for now.
I also believe that if they can show in a few weeks they're on target for the $90-$95mil and 15% growth, it will begin to stop the bleeding. By then they will be 4-5 months in to the new year and have a decent idea. CEO/CCO can focus on that. A company growing revenues 15%, moving ot breakeven and then profits, with $90mil plus revenues is worth a few hundred million based on smallcap biotech comps. If they can add some data-based conclusions around oncology and all the "new eyes" looking at it, along with the FDA eyes, see a rationale for moving the trial back in to enrollment, even limited enrollment, to modify the dosage regime and see if that efficacy/safety tradeoff can be bent slightly more to the drugs favor, that will reintroduce some "hope" again. But a far more muted hope given we were unfortunately burned. As has been said many times, drug trials often have ups and downs and crazy surprises. Our first surprise was the lack of translating superlative pre-clinical results in many aspects of the science into something even half as good as the lab results. The hope would be through trial and error, there is an answer. But no one knows and none of us, for sure, will bet on that. But if you're in it now, you are betting sales grow 15%, breakeven is hit, the F8 and IV formulas move ahead, and by Fall they are talking about sales traction, patient retention high, the high end of revenue guidance and $105-$115 the following year with lots more free cash flow hitting the bottom line. That would create a fair value far closer to $3 than where it is today. But they need to achieve a lot, which they are clearly trying to do. That's my view and we will only get readings on that each quarter; hence, why we haven't had much to post about.