RE:RE:Gamechanger This goes way back so probably only the oldtimers will remember but when SBM did the deal with Obagi that got stretched out to the point where they developed addtional lightening compounds that were even better then the one licensed to Obagi. Then when it finally came time for Obagi to work on formulating the compound into their products it was determined it was too costly of a process and abandoned the deal altogether. Hopefully this isn't playing out again with AbbVie either but we are now pushing two years and nadda, zip, zero and zilch progress reported so far.
This seems to play out repeatedly with SBM - they were close to having a buyout for the TFC1067 (ironically now licensed to AbbVie) then that company went through a reorg and the deal fell through. Because they thought it was being bought out they didn't progress the compound via clincial trials and then had to start from scratch again adding years onto its eventual licensing. They were talking buyouts, poison pills, the whole nine yards and then it all imploded as usual.
Then again with their SGLT2 compound which was their landmark compound - working with Wanbang who seemed to sit on the clinical trials forever without any updates and then it turns out they waited sooooo long the compound went generic in China and agian it was abandoned. To add insult to injury Wanbang apparently wouldn't cooperate and relase the existing information on it and then sunk SBM"s chance to do an animal deal on the TFC-1039 compound which apparently was "close" with 4 different companies.
Then they've flopped on transplant uses, seed uses...you get the picture. Point being is Howard and SBM have pulled the rug out from investors so many times they have PTSD and aren't going to believe anything until there is money in hand and revenue on the books. Howard can ramble on about new compounds, partners, contracts, staff, etc. but until there is some verified $$$ coming in he has more than used up any goodwill with the general investing pubilc.