Ammended notes (sorry)Here are some of the important issues that I noted:
- with respect to E.coli vaccine, baboon study (and now a pig study) will not be completed until the summer of 2006 such that Canadian regulatory submission will not be prior to that time (that is a drag!)
- with respect to E.coli vaccine, BNC does seem to think that it can proceed with US submission by January 2006 without the baboon/pig studies (not bad considering it is a much bigger market) (we will need to wait to see if they deliver; also, no information was provided on the expected time for USDA to review and approve the submission)
- submission package for MCC bladder cancer indication to move into Phase III is expected to be ready in December 2005 but BNC cautioned that submission does not mean approval and there could be some bridging or additional toxicology studies required prior to Phase III commencing
- MCC for prostrate cancer only to move ahead after bladder cancer submission completed
- no details on the selling price of the pharma unit can be released but it apparently is a good deal
- I heard no changes to earnings and revenue guidance
- further dilution of stocks is planned to only occur after the share price substantially increases (they actually want to try to reward those shareholders that have stuck with them thru these hard times).
Overall, not a bad call and I am glad my predictions did not come true. I was impressed at BNC's humility and willingness to admit not everything is perfect with the company and its share price. Increasing the share price seems to be a priority. They do seem to have some products under development with awesome potential. I apologize for my previous negativity! But still caution that things are far from perfect in BNC Land.