The following discussion of our financial conditio
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Posted On: 01/16/2019 1:07:50 AM
The following discussion of our financial condition and results of operations should be read in conjunction with our accompanying audited financial statements and related notes to those statements included elsewhere in this Annual Report on Form 10-K.
Our fiscal year ends on June 30. When we refer to a fiscal year, we are referring to the year in which the fiscal year ends. Therefore, fiscal 2018 refers to the fiscal year ended June 30, 2018.
Management’s Plan of Operation
The Company devotes most of its efforts and resources on its clinical trials. These trials are evaluating our drug candidates: Brilacidin for prevention of oral mucositis complicating chemoradiation treatment for cancer, treatment of IBD , and treatment of skin infections; Prurisol for the treatment of psoriasis; and Kevetrin for the treatment of cancer. We anticipate using our expertise to manage and perform what we believe are the most critical aspects of the product development process which include: (i) design and oversight of clinical trials; (ii) development and execution of strategies for the protection and maintenance of intellectual property rights; and (iii) interactions with regulatory authorities domestically and internationally. We expect to concentrate on product development and engage in a limited way in product discovery, avoiding the significant investment of time and financial resources that is generally required for a promising compound to be identified and brought into clinical trials.
The Company signed a non-binding 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 non-binding 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.
Set forth below is an overview our research and development efforts on Brilacidin, Prurisol, and Kevetrin during fiscal 2018 and through the date of this Annual Report on Form 10-K:
Brilacidin.
Our fiscal year ends on June 30. When we refer to a fiscal year, we are referring to the year in which the fiscal year ends. Therefore, fiscal 2018 refers to the fiscal year ended June 30, 2018.
Management’s Plan of Operation
The Company devotes most of its efforts and resources on its clinical trials. These trials are evaluating our drug candidates: Brilacidin for prevention of oral mucositis complicating chemoradiation treatment for cancer, treatment of IBD , and treatment of skin infections; Prurisol for the treatment of psoriasis; and Kevetrin for the treatment of cancer. We anticipate using our expertise to manage and perform what we believe are the most critical aspects of the product development process which include: (i) design and oversight of clinical trials; (ii) development and execution of strategies for the protection and maintenance of intellectual property rights; and (iii) interactions with regulatory authorities domestically and internationally. We expect to concentrate on product development and engage in a limited way in product discovery, avoiding the significant investment of time and financial resources that is generally required for a promising compound to be identified and brought into clinical trials.
The Company signed a non-binding 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 non-binding 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.
Set forth below is an overview our research and development efforts on Brilacidin, Prurisol, and Kevetrin during fiscal 2018 and through the date of this Annual Report on Form 10-K:
Brilacidin.
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