My best friend was an auditor at big 3 and then held various high level positions at big Pharma, including Head of B/D and audit committee. He went with the data and info provided on the calls, as did all the analysts.
This is the first new class antibiotic that has received stunning efficacy like this.
Many deals are struck at the JP Morgan event, and they were the ones that had their clients pony up the last couple hundred mil at 28 and 18.
Just my guess, but I don't think the drug is Dead. Ex CEO made many public comments that she was meeting with FDA throughout process and no major concerns, that was a big lie or she was listening but not hearing.
They do have another indication and as a previous post indicated getting 900 patients in a safety study is not that big of a deal. The warning label is not a big deal but having it as a second line of defense is. Doctors, of course can ignore that.
This is why they should partner or sell out to a bigger Pharma. These guys are already trusted by Doctors and have more than one drug in their portfolio.
It is risky but a lot of the risk is mitigated by price. If they don't partner up they will run the clock out on money and have to raise more, the only upside is if they get a good result on new indication.
No doubt the FDA is pissed, and you would have to see all the company's internal data to figure out why.
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