There is no way the PR timeline is fiscal based. The following was posted on 4/7/13 following the 4/4/13 PR which included the timeline:
The Press Release has to be speaking in terms of calendar quarters and not fiscal quarters or else the PR doesn't make any sense. The PR states, "We plan to in-license the patent portfolio in Q2 of 2013 and establish collaborations with academic and industry groups to file an IND by Q4 of 2013."
The PR also lists "-- In license Min technology: Q2 2013" as an "Upcoming Milestone"
If the PR were speaking in terms of fiscal year 2013 quarters then Q2 would have just ended at the end of March. So why list something which is a future plan and as an "Upcoming Milestone" as a goal to achieve during the previous quarter?
The PR is clearly speaking in terms of calendar quarters.
That being said, the "Upcoming Milestone" of "-- Response to FDA questions: Q3 2013" means they intend to file the response to any FDA questions by July 2013-September 2013.
The only real grey area of the PR is the number of issues that must be addressed and how serious they are. The PR states "as per FDA procedure, a letter outlining items which must be addressed prior to initiating clinical trials will be sent to us shortly."
While the PR lists the intended dates to address the questions as Q3 2013, it is possible that the issues may be so minor they can be quickly addressed or alternatively, so serious that it may take even more time.
The PR also lists "-- In license Min technology: Q2 2013" as an "Upcoming Milestone"
If the PR were speaking in terms of fiscal year 2013 quarters then Q2 would have just ended at the end of March. So why list something which is a future plan and as an "Upcoming Milestone" as a goal to achieve during the previous quarter?
The PR is clearly speaking in terms of calendar quarters.
That being said, the "Upcoming Milestone" of "-- Response to FDA questions: Q3 2013" means they intend to file the response to any FDA questions by July 2013-September 2013.
The only real grey area of the PR is the number of issues that must be addressed and how serious they are. The PR states "as per FDA procedure, a letter outlining items which must be addressed prior to initiating clinical trials will be sent to us shortly."
While the PR lists the intended dates to address the questions as Q3 2013, it is possible that the issues may be so minor they can be quickly addressed or alternatively, so serious that it may take even more time.
