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Alias Born | 09/26/2009 |
Thursday, September 25, 2014 7:27:35 AM
1) This is not the same company as it was under Chris Stern
2) If you bought before September of last year you've gotten burned and lost over 90% of your money.
3) The company BEFORE September 2013 was ruined and only concerned with enriching the officers. Somewhere along the way John Kelley got involved and OXBT jumped at the chance of a new opportunity. Phyxius Pharma made the deal with OXBT so they didn't have to spend the time and $$$ to go public. And as you've seen, they've gained access to $56 million in capital to start clinical trials for LEVO in under a year and commenced those trials. Impressive in my book.
4) Now that John Kelley has come onboard he is making a real go at getting a different drug to market. These clinical trials are real and this drug meets an unmet need. Could it fail? Sure, most biotechs do. As far as the company not making a profit for 20 years, look at other bios, like ISIS or LIGND or centocore back in the day. They took 10 to 20 years to get their first drug approved.
5) Levo has a lower risk profile than most drugs becaues it has been in use in Europe for many years and there is ALOT of data on it already showing that it works and is safe.
6) $56 million that was raised was from an offering in May(dilution). That money is now in cash and purchased securities to fund the company. The company has stated "they have funds to sustain them until Mid 2017" so I would be shocked if there is anymore dilution before then.
7)7 hospitals are now participating in the trial, and over 30 will be online by the end of December. In just about 1 1/2 years the question of if this will be a successful company will be answered once and for all.
8) Oxycyte may still have a future as a drug, but I believe the real reason the trial was halted was not released to shareholders. I'm starting to think with all the crap that has happened in the past 10 years, all the record keeping of the clinical trials is a mess or lost and has to be re-done to present to the FDA for eventual approval so Kelley either has put it on hold and may sell to drug to another company or possibly restart if they are successful in getting LEVO approved.
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