Email from Fred Hi all,
Below I have reproduced my question to Fred and his email response. Glta.
Stockman6767
My question and concerns I emailed to Fred:
Hi Fred,
I have been waiting patiently for news but it has been very scarce over the last many months. Frankly, I had a vastly different picture of the expected news flow – so I guess I am disappointed. Hi had hoped for updates and/or milestones from CBNG as well as news from Hepalink and Hematech and NantPro etc. I was also expecting more news on the work at the Laval plant and approaching state of readiness. I also expected news on FDA filings for the orphan drug as well as new deals on more orphan drugs. I also was expecting to hear about the filing on PI for 4050 and the organization of the trial, signing up sites for the trial and start of enrollment as well as totally new deals. I literally thought we would have a NR per week – unfortunately that has not materialized and the share price has suffered in the meantime. While I still believe in the future of the company, I am now starting to be concerned that it still might take much longer than I had expected – I hope I wrong on this and looking for any help you can provide to relieve my concerns. In fact all of my hopes have now been compressed into the next 6 months to the end of 2014 – so I now hope we have many and frequent NRs in H2. Can you clue me in to what the reality might hold for us? I of course realize that for the other existing partners that I have not mentioned above (such as Halozyme, Novozyme, GSK, etc) we will have to wait for their products to gain approval and go commercial, so we are at the mercy of their success in their trials – but even here, I was hopeful that (some) of their times had arrived – but so far, not the case – but maybe almost there?
Should I be concerned – that we will eventually get there – but much later than I thought? Has our progress slipped in its timing? I do hope you are going to tell me that a lot of things are about to pop in the very near term and PLI is working on the last few details before they are made public.
Best regards,
Xxxxxxx
Fred responded as follows:
Hi Xxxxxxxx,
It’s been a while, good to hear from you.
I know that the news flow has not been exactly all what our investors were hoping for so far in 2013 but we have continued progressing none the less.
As mentioned at the AGM we expect to be ahead of last year revenue wise at the mid-year mark (end of June 2013), by how much exactly remains to be seen for now but I would hope that it would be by at least $3M. H1 2013 to be ahead by at least $3M compared to H1 2012. As for the second half of 2013, it’s been historically strong, so I’m confident on that front revenue wise.
I’m still hopeful that we will have a few things to announce even before our Q2 results scheduled for mid-August. For example I could see some announcements like:
1- Update on progress on ProMetic BioProduction etc..
2- Update on a client development program
3- A clinical asset update (PBI-4050)
4- Potential milestone accomplishment
And then I anticipate the news flow to really start picking up later on in the second half of the year. This is when I think our chances of coming up with a few surprises for the Street are at their best. (new products with existing partners, new partnerships and / or licensing agreements altogether, filing of IND, potentially more on orphan drug designation etc…).
It’s not even funny Henry when I look at everything we are working on. As you know, we won’t close everything that’s being discussed but we won’t need to either to make some interesting “noise”
Again, the news flow will accelerate this fall, we will have some more between now and then and it will continue to accelerate going forward and into 2014.
I know we will get there, will it be later than what you originally had in mind? As usual it’s probably somewhere in the middle. Not as quickly as what you would like to, it never is for anyone actually, even for us internally, but not so late either that you won’t start to see progress before 2014. As for many of our projects and partners and as you know, we do not fully control their timelines but as we advance, more and more will come alive and known…
Talk to you soon Xxxxxx
Frédéric Dumais, B. Comm., L.L.B.
Directeur, Communications et relations avec les investisseurs
Director, Communications and Investor relations
ProMetic Sciences de la Vie inc. / ProMetic Life Sciences Inc.
531, boul. des Prairies, édifice (bldg) 15
Laval (Québec), H7V 1B7
Canada
Tel.: 450-781-0115 (ext. 2234)
Fax: 450-781-4477
Cell.: 514-261-4735
f.dumais@prometic.com
www.prometic.com
(TSX:PLI)
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