another pc of the puzzle... I think this line from Maroka at Cannacord sums it up well :
Investment highlights • Strong evidence of efficacy in Alstrm syndrome. Patients in the study saw a 31% improvement in liver stiffness, as measured by FibroScan (p=0.0098), as well as a statistically significant reduction in biomarkers of kidney damage. Furthermore, patients with elevated liver enzymes at baseline showed normalization following treatment. • Alstrm is an excellent proxy for other fibrotic diseases. We believe the application for ‘4050 is significant; from IPF, to NASH, to metabolic syndrome, to end-stage renal disease. We view ‘4050 to have blockbuster potential, if approved.
Hard to believe the market has priced in THIS kind of sustained and meaningful safety and efficacy for 4050. This kind of significant movement in both Liver and Kidney indicators in such a brutal multi organ Fibrotic disease is a BIG DEAL, and industry will absolutely take notice.
The next big pc of the puzzle is 4050 getting US FDA IND approval... and I think any prospective partner will at a MINIMUM be baseline satisfied with safety, efficacy and regulatory pathway.
This is a solid development and virtually exactly what we were hoping for. The markets non reaction is a little disappointing, but the negative sloping Moving averages and this whole $1.50 area is going to be a line in the sand for the shorts to defend. The big money needs to move the needle here... and it will when the FDA has its say on 4050 IND and Pg.... ( or a suprise partnership deal )
Its only a start, but noteworthy that the US OTC shorts declined by 17% from the peak, and CDN TSX shorts declined 15%... so as I suspected the shorts are opportunistically bringing some back in. I just want to see the scenario where they are wrong about pressing here, and reaching over themselves to get stock back. But I must admit its a tough wait...
Bring on the CANTOR coverage into their conference to highlight all this stuff