The gloom is about being in this crap financial po
Post# of 72447
(Total Views: 336)
Posted On: 09/19/2018 9:07:40 PM
The gloom is about being in this crap financial position relying on a deal to happen. The 10-K made it clear that negotiations are underway but it has not been closed as of the filing and there is no assurance that it will be.
What kind of quibbles will a BP legal team find regarding the Penn licensing agreements?
I'll breathe a sigh of relief when the deal is closed. Until then we hang in the balance. It seems everyone on this board has convinced themselves that everything is great. Maybe it is. Maybe it isn't. We'll know once the deal closes.
Quote:
The Company signed a nonbinding term sheet in August 2018 with a global pharmaceutical company for the licensing/rights to Brilacidin for treating oral mucositis and inflammatory bowel diseases. Initial payments, milestone payments and royalties are being negotiated in accordance with the nonbinding term sheet. The pharmaceutical company is now engaged in further due diligence. Management can offer no assurances that the parties will enter into a binding definitive agreement.
What kind of quibbles will a BP legal team find regarding the Penn licensing agreements?
Quote:
All of our Polymedix drug product candidates are licensed from or based upon licenses from the University of Pennsylvania. Upon our purchase of the Polymedix Assets we assumed all contractual rights and obligations of the licenses. If any of these license agreements are terminated, our ability to advance our Polymedix product candidates or develop new product candidates will be materially adversely affected which could have a materially adverse effect on our business.
We now depend, and will continue to depend, on our Polymedix licenses and potentially on other licensing arrangements and/or strategic relationships with third parties for the research, development, manufacturing and commercialization of our Polymedix product candidates. If any of our licenses or relationships are terminated or breached, we may:
· lose our rights to develop and market our Polymedix product candidates;
· lose patent and/or trade secret protection for our Polymedix product candidates;
· experience significant delays in the development or commercialization of our Polymedix product candidates;
· not be able to obtain any other licenses on acceptable terms, if at all; and/or
· incur liability for damages.
If we experience any of the foregoing, it could have a materially adverse effect on our business and could force us to cease operations which could cause you to lose all of your investment.
I'll breathe a sigh of relief when the deal is closed. Until then we hang in the balance. It seems everyone on this board has convinced themselves that everything is great. Maybe it is. Maybe it isn't. We'll know once the deal closes.
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