FUDsters are claiming the deal is off. Here’s my
Post# of 72440
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Posted On: 10/09/2018 3:02:21 PM
FUDsters are claiming the deal is off. Here’s my reply to frrol.
sox040713 Tuesday, 10/09/18 02:52:10 PM
Re: frrol post# 244213
Post # 244252 of 244254
First of all, I don’t think $10M is enough for B-OM Phase 3 and operating expenses. If the deal is off as you suggested, Leo would’ve asked for more.
Second, Leo clearly said the money will be used to meet near-term goals (plural). In case you forgot, they are:
http://www.ipharminc.com/press-release/2018/9...and-events
B-OM Phase 3 being mentioned because that’s the top priority. Money used to pay lawyers to close a deal after the DD period (usually 90 days) certainly qualifies as “advancing Brilacidin into a pivotal study”.
Leo actually raised ~$2M today, not $10M. ~$2M was the operating expense in Q3 and is probably the same in Q4. Earlier you said a deal is 90% (post 244129), now you said it’s off. Which one is it?
sox040713 Tuesday, 10/09/18 02:52:10 PM
Re: frrol post# 244213
Post # 244252 of 244254
First of all, I don’t think $10M is enough for B-OM Phase 3 and operating expenses. If the deal is off as you suggested, Leo would’ve asked for more.
Second, Leo clearly said the money will be used to meet near-term goals (plural). In case you forgot, they are:
Quote:
Near-term strategic clinical priorities remain: to work closely with the FDA and other regulatory authorities to align on the remaining development plan necessary for Brilacidin in Oral Mucositis; to analyze the Prurisol Phase 2b data in Psoriasis; and, as additional funding becomes available, to commence work on new product formulations—1) an oral pill for Kevetrin in Ovarian Cancer; 2) an oral pill for Brilacidin in IBD; and a topical application for Brilacidin in Atopic Dermatitis and Acne.
http://www.ipharminc.com/press-release/2018/9...and-events
B-OM Phase 3 being mentioned because that’s the top priority. Money used to pay lawyers to close a deal after the DD period (usually 90 days) certainly qualifies as “advancing Brilacidin into a pivotal study”.
Leo actually raised ~$2M today, not $10M. ~$2M was the operating expense in Q3 and is probably the same in Q4. Earlier you said a deal is 90% (post 244129), now you said it’s off. Which one is it?
Quote:
So no one should expect any strategic investment with a partnership, we wouldn't have raised $10MM if that were part of the partnership deal because we wouldn't have needed it.
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