Here Is What I Hear
Bottom Line as of 04/15/08: There have been no upsets, reversals or adverse developments regarding clinical trials, the Duke publications or the monetizing of Avid.
Here are nuggets from today’s call:
1. The Duke studies are now completing final stage of pre-publication review. The delays resulted from both (1) inclusion of an exciting new monkey study just completed and (2) need for PPHM patent counsel to assure that all ownership and exclusive license rights to Peregrine MAbs used in Duke studies were properly documented before publication. Question: “Does the Company know the date when the Duke publications will hit the street?” Answer: “Yes, and it’s soon now.”
2. Duke publications (and it is plural) represent a major endorsement at the highest levels that Gendel is confident will get covered in national TV and other media outlets. Both Gendel and Ink-Ink (our other PR firm) are gearing up for a major PR campaign that will coordinate the ground-breaking anti-viral Duke data with other PPHM clinical announcements from Georgia and Cotara programs. PR white boards are full of time lines, action items and responsibility check lists.
3. Duke is very excited to continue working with multiple PPHM MAbs and has opened several doors with its alliance partners, including the government, for follow-on projects. These are the “well-funded” anti-viral research collaborations that SK mentioned in last CC.
4. Substantial progress has been made in monetizing Avid. Prospective orders from follow-on Duke research collaborations have increased the value of the Avid facility. Most likely structure will be to bring in a partner that funds an expansion of the facility and then PPHM will retain a dedicated portion of the enlarged facility for its exclusive use. For example, after the expansion, PPHM might control only 40% of the capacity but that could be almost as much capacity as it currently manages. Parallel discussions are continuing down a different path, namely: retain 100% ownership and pledge the facility to the bank as collateral for a commercial loan (sometimes called “Project Financing”).
5. Georgia trial very much on track. GA docs continue to be excited by what they are seeing. A PR update on status of trial will be issued in the next few weeks.
6. India cancer trials will be launched simultaneously at multiple centers. One or two centers are ready to enroll now but it seems to work better politically if all five centers launch concurrently. Should get started last week of April or first week May.
7. Cotara India trial going fine. Enrollment is happening now at a good pace.
8. Question: “Has progress been made in developing an aerosol delivery method for Bavi?” Answer: “You’d have to ask someone else about that.”
9. Question: “Well I guess that covers just about everything?” Reply: “No, there are other important things happening that we can’t talk about.”
AI
