RE: Nuvo Research granted U.S. Patent for treatmen Hmmm...they don't give a date for when the patent expires, which they have done with P2% - what's up with that? Also, how much will it cost to complete Phase III clinical trials to obtain FDA approval. If P2% is any guide we are talking $30-40 million. They barely have enough money to stay in business for the next year, so clearly no funds for this.
As I have said before this company should be put up FOR SALE if it hasn't already been. I would think it could be attractive to a large biotech canadian biotech company. They have 3 FDA approved products together an interesting pipeline of development opportunities. Plus they have losses of close to $220 million which alone would be worth around $50 million in reduced taxes to the buyer.
Trying to raise funds in the equity markets would cause massive dilution, and I am not even sure they could raise the money. There doesn't seem to be much interest in the stock.
Dan and John are getting on in their careers and may be tired of the struggle of the biotech business. Be nice to put all of us out of our misery! An outright sale provides benefits all around.
I would be happy is they could sell the company for around $6.50 per share (10 cents pre RS).
The AGM will be interesting.
John.