Wednesday, September 28, 2016 6:32:34 PM
IF indeed, it is the case that with each effort NNVC is converging towards solutions on the scale-up problem and the ligand design issue, THEN there is hope. In other words, if your description is correct, then NNVC is in the process of solving a tractable optimization problem. This type of search problem can be solved by using what has been learned in prior steps to guide the next step of the search for a solution. Some engineering problems behave this way. However, other many problems don't behave this way. They require brute force searching - every possible solution must be tried. If the set of possibles is very large and each search step takes time and resources that exceed what is available they are essentially unsolvable.
The problem is this - at the outset, it is not known if the problem is tractable or not.
Given the time NNVC has already spent and their continual shifts from one virus to another without meaningful progress suggests to me that they are dealing with at least one, intractable problem. Maybe it's the scale-up issue. Maybe it's the ligand design issue. Maybe it's some entirely different issue.
I feel it's incumbent upon management to fully candid with shareholders about the technical hurdles they are facing. It was my hope that the CEO letter that never came would do this. So far this has been a disappointment.
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