RE: RE: RE: Sure Quite - next StepBioboy, let me do a little thinking out loud.
Unfortunately a financing is looking less and less likely imo. To fund Phase 3 will require at least $10 million - more likely $12 - $15 million.
Unless PRX can pull the share price up they would be lucky to get
.50 per share based on current trading...that would be at least a 20% dilution.
To get the SP up, they need to get the full data out from Phase 2b - assuming it is positive; that could help. But, that is unlikely to happen until March, possibly in conjunction with the 6-month data to maximize impact.
A co-development deal is more likely now imo, as the pharma professionals will read the data objectively and place greater value in the fact that the top line met the end point and the more objective data that forms part of the full data set will likely further enhance the top line assessment.
The low SP limits PRX's options - as they are dealing from less strength than they would have liked or, as I believe, they expected. A 20% to 30% dilution is too big a price to pay imo. Take a less that perfect co-development deal = possibly one that is somewhat back end loaded but with sufficient cash to build the pipeline so PRX is not a one-trick-pony.
Another option might be to secure sufficient financing to move the caner drugs further along with the objective of making a compelling comprehensive package for co-development or acquisition. But this option means changing strategic horses in mid-stream, making a less than desirable option...however, I am thinking out loud as I said.