Epicept - Latest from Tullytown
2010-12-08 07:09Please note: Community posts are written by its members and not by Redeye’s research department. As a reader you’re always encouraged to critically analyze the content.
Jag ställde ett par frågor till Bob Cook i förra veckan, nu på morgonkvisten dök svaren upp.
I heard the news about a retracted Health Canada application. A correct move in the current situation. However did Health Canada relay a decission of approval yes/no before you retracted your application? I'm under the impression that the application and decission can be reopend at a later stage pending a positve decission on data protection, is that the case?No decision was made in Canada prior to our withdrawing the application. Provided we refile within five years, the application will revert to the prior status it had within the regulatory review at the moment we withdrew the application.
Otherwise I have been talking to GNI regarding your EP1013 candidate, they will soon be filing an IND application, is the milstone from GNI related to the actual filing, decision or dosing of first patient in a phase I study?Milestones from GNI are earned based on initiation of each phase of development in each country in which the compound is being developed.
Regarding future financing, I expect it to be a convertibel loan, when will the final touch on the terms be laid?
Nothing further to report on the status of the financing. Still working on it.
The stock price set an new all-time-low for this year yesterday, closing at 0,33$, the company value is now 16,63 millon dollar, it is somewhat astonishing. How will you meet the Nasdaq demands for continued listing with a company value over 50 M$ and a share price over 1$?
The Nasdaq requirements are a minimum $1 bid price and a $35 million market capitalization. With that said, we are reviewing the options available. No answers yet except that we’d like business milestones to get us to there
Have the company ever thought about selling of all rights to NP-1 and focus only on cancer? It would surely help finance operations until we can see a positive cash-flow from Ceplene sales.Using NP-1 to help finance the development of the cancer portfolio is one of the possibilities under consideration. We are looking at all the permutations before deciding the direction in which we will head.
One last thing, you mentioned that you will try to cut cost down to a burnrate of 2 M$ / quarter, how will this be acheived? Rita Kelley was hired solely for pre-market work of the US Ceplene market what is her current work tasks since Ceplene-US is probably years away?We no longer have the staff we hired earlier this year to progress Ceplene marketing in the U.S. as this need is now delayed for a few years. We’ll also reduce R&D to only those projects that must proceed, i.e. the post approval trial, and not commence any new trials before we have the financing locked down.
Jag hoppas att ni tycker om frågorna och svaren.
/Pfenix