Nuvo Pharmaceuticals Inc NRIFF

AGM

[3dollar]

Just listened to a podcast of the AGM and there really was nothing new to report.  Everything hinges on Pennsaid approval....duh!! 

Management is optimistic about a future pipeline and there plans would be to co-develop at much earlier stages in the process.

Independent study by 3rd party Biotech/Pharma consulting agency suggest that the overall topical Nsaid market will be $2b by 2014 and that Pennsaid could achieve revenues up to $337m.  It was acknowledged that this was a conservative yet realistic estimate.

Would prefer a partner prior to PDUFA but are somewhat at the mercy of the partners....claim it to be a very slow process and that the large pharmas are in no hurry to cut a deal

Would not specualte on s/p post Pennsaid approval and or partner announcement

The scariest part of the entire discussion was about a reverse split.  Although Management says they have no immediate plans to do one it is something they are considering.  It came across to me as this is something they feel is inevitable and therefore a matter of time before it happens.  They tried to spin it as a positive and that it would only enhance shareholder value.....spoken like a bunch of guys who hold millions of options.  It also suggests to me that they don't expect any significant increase in s/p post approval, post partner announcement.  reverse split would be the death knell for all existing shareholders.

Made a bunch of excuses as to why there is not more publicity around the comopany and the Edison award........blames it on the media not being interested in the story at this point.......too many other things to talk about which may be valid considering the state of the world.  however, my take is that nobody in house knows how to market and they don't want to waste any more money on Equicom than they have to.

Pretty much said the formulary process is dead......Paladin's responsibility but feel as if every avenue has been exhausted and the the Provinces want expensive large studies completed before reconsidering Pennsaid.......If true the Canadian Provincial and Federal Government is a complete joke in the area of Health Care

There were other tidbits but that's about all I got out of it although I'm sure others will add on to these thoughts.  All in all I'm thinking any runup shortly after the Partner announcement would be the time to get out assuming it comes after FDA.

Later

p.s.  Forgot one other thing........Pennsaid is a must have for the Greeks!!!