TSXV:BTI.H - Post by User
Post by
prophetoffactzon Sep 29, 2022 7:37am
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Post# 34994198
J&J
J&J"The agreement is effective until the earlier of (i) completion of the research, or (ii) January 31, 2023. Janssen will have the option to research, develop and commercialize novel products based on the Company’s xB3 technology."
The J&J multi-product option was announced April 11, 2022. Given the expiry date of Jan. 31, 2022 at the latest the option agreement was anticipated to last at most about 9 1/2 months. We are now about 5 1/2 months into the agreement which is well past the mid-point. The research was likely anticipated to be completed well before the Jan. 31, 2022 expiry leaving time for conservatism. I wouldn't be surprised if the research has been completed or almost completed by now. A decision to exercise the option or not may be imminent. With BTI having anticipated cash equal to about one month of burn rate remining and it having now been about two months something appears imminent.