RE:RE:RE:RE:RE:RE:RE:Finances
Rumpl3StiltSkin wrote: I think at this point, given the CR numbers. TLT will own late stage NMIBC. I'm expecting a JV for that should bring in 9 figures. Enough for them to get a solid Phase 1 for NSCLS off the ground.
Anyone think TLT will fail to get the BTD for this? And an AA afterwards?
Place your bets! :-)
If the company partners with Big Pharma (JV), I only hope we get fair value. For a small biotech like ours, I'm not sure a BTD is enough derisking to get a generous enough deal from Big Pharma, at least for us retail investors. Big Pharma will certainly use its bargaining power strength, & it very well knows it stands to gain much more with an early stage deal (buyout or JV/licensing deal). In such a scenario, I would rather risk another round of less desirable funding (in whatever form) or an atypical partnership (i.e. a less capital-constrained mid-size pharma, other biotech or even radiology company) to advance us to the next indication.
Early clinical success with GBM & NSCLC would be a game-changer for shareholders & provide the final proof of concept (across multiple indications) that I believe would finally ascend us to the "fair" value range for what has been a grossly undervalued company. As Eoganacht stated, if this company can additionally find a cost effective & efficient way to utilize lower-dose radiation from a convenient/less invasive source (I.e. x-ray, ultrasound, other targeted/lower dose radiation like SBRT) to activate our invaluable library of photosensitizers, the value of this company soars exponentially imo...making this a worthwhile wait for perhaps those younger investors ; ).
In the meantime, this science marches to the beat of its own drum. There will likely continue to be scrutiny from some investors on the financial front; however, to have gotten as far as we have on such a shoestring budget is admirable imo. In terms of operational expenses for a pre-commercial company, I look at G&A as a percentage of total expenses (I.e. </= 25% as a benchmark). Efficient biotechs generally run at or below this benchmark. This company has performed such in the face of a global pandemic, & upper management has even reached further into their own shallow pockets to help sustain status quo. Hats off to their efforts thus far...from my standpoint, there's no need for financial justifications. Simply wish we all had deeper pockets. Good luck...