RE:RE:Really?Mac,
"and then we have the mastermind who offers up the stock at 0.86....WOW"
People have been saying for years that people who sell the stock at this point are idiots. Has that ever proven correct before? A lot of people are exhausted with this investment and add in December trading patterns that are quite often used for short-term gains, this isn't too surprising.
I don't blame anyone for selling. I'm out of here as soon as (if) a deal is announced. This company moves so slowly (albeit I'm sure at least partly due to a lack of financing) and discretely, that I want off this ride.
I got a chuckle out of this portion of the MD&A:
"Many of our competitors have significantly greater financial resources and expertise in research and development, manufacturing, preclinical testing, conducting clinical trials, obtaining regulatory approvals and marketing approved products than we do. Established pharmaceutical companies may invest heavily to discover quickly and develop novel compounds or drug delivery technology that could make our product candidates obsolete......Accordingly, our competitors may succeed in obtaining patent protection, receiving FDA approval or discovering, developing and commercializing products before we do."
Yes, competitors move faster. That's why vaccines are being administered for Covid and we're still planning a stage 2 trial.... at some point in the future?
Interesting tidbit from the MD&A:
- p.17 The fair value of the royalty preferred shares is based on management’s judgments, estimates and assumptions which include significant unobservable inputs including the timing and amounts of the Company’s discounted risk adjusted future net cash flows, which incorporate: a cumulative probability rate of generating forecasted future cash flows of 42% as at October 31, 2020 and April 30, 2020 (42% as at October 31, 2019 and April 30, 2019) reflecting in each case, among other factors, our clinical results, in particular the results of BETonMACE, and communication with the FDA (including Breakthrough Therapy Designation) and other regulatory bodies; a discount rate of 23.3% as at October 31, 2020 and 23.2% as at April 30, 2020 (21.8% as at October 31, 2019 and 19.5% as at April 30, 2019); commencement of revenue between mid 2024 and early 2025, based on projected clinical development paths across various jurisdictions which is based in part on securing the requisite funding from a partnership with a pharmaceutical company or other source(s) of capital by around the end of calendar 2020, as at October 31, 2020 and between early 2024 and late 2024 as at April:
Looks like something is still expected to happen by around end of the year, regarding financing.
Before we get too excited:
p. 28: We face significant competition in seeking appropriate strategic partners, and these strategic partnerships can be intricate and time consuming to negotiate and document. We may not be able to negotiate additional strategic partnerships on acceptable terms, or at all.
J4P,
"It has been my opinion for quite some time now that this has been under patient and persistent accumulation.....They may jump up to grab some fruit and then lie back in the weeds, selling a few shares cheaply to suggest weakness and create another opportunity to buy another batch"
- I would agree that some of the heavy early December selling may have been an attempt at this. Other than that, I don't know that I agree. Shares have been cheap for so long that anyone who wants in sub $1 has had ample opportunity.