They can't get enough participation via Paulson in

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They can't get enough participation via Paulson investors, so they are trying to go direct

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They might have kicked Paulson to the curb. As they should long ago, why is Paulson collecting a 10% cut on every offering, when it seems they are doing almost nothing to contribute. It seems most of the latest financing was from people contacting the company directly, but Paulson got a cut. NP presents at a conference finding new investors and Paulson gets a cut. Before Paulson, shares were restricted 6 months. They added unrestricted so participates could dump shares hold warrants. I’ll be glad when the Paulson leach is gone.

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My strong guess is that they are fighting off creditors and nearing BK, while desperately trying to close a financing deal. The debt-holder will end up winning.

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There is a long path from here to debt holder winning. They owe them 10M. Even selling shares at 25c or 30c, no warrants, restrictive for 6 months. They could pay off note holder and fund company until BLA is done.

They could sell Asia hiv or cancer or gvhd or prostate test to fund the rest. I know they prefer not, but worst case situation you do what must be done.

They could cancel the mono trail
Cut the mono trial after the pivotal approval in a couple weeks and once the safety data is done, which it probably already is. I know, 150+ at 1 year. But if the FDA isn't going to allow this data and wants new data, why should they spend $3M per month to continue this trial? The additional safety data requirement (remember they couldn't just enroll 50 at 700mg, they had to enroll randomly 525vs 700mg, and they thought they needed 100 safety, so they enrolled 200+ patients to get this safety data.) That is why the burn rate went from 3M to 5M, this mostly was just to get the additional safety data for the BLA! Would the FDA like that data, yeah, but we would like to not have to do another trial. If they are at 70% efficacy with 525mg and 700mg right now, what the FDA requested initially, why is a new trial needed anyway

The addition cost for this safety data + the additional time the FDA asked has put a financial strain on the company.


Nuclear option they could R/S, getting a much sexier O/S, bringing in new investors, uplisting possibilities, etc.

So lots of options way before any of that. Let’s see how much the bring in. Then get mono pivotal approval and go from there. No need to panic at this point, this close to the finish line.