Spot on, good doctor.
I think I will use my once a day post to offer a perspective at this point...
That NH said a decision would be made on a partner before filing the NDA in December tells us three things: 1) CEOs do not like to be wrong or appear to cheerlead from an ungrounded position. When NH said they would decide on a partnership before filing in December it means he chose not to be vague and state..."when we file"...he specifically stated December. This should be reassuring that he intends on filing the NDA in December and is moving all parties toward that end. 2) This decision about a partnership may well mean they choose not to partner. And, this gets to the biggest point...3) The purpose of the partnership. Allow me to explain more fully...
Elite does not appear to need a manufacturing partner to move forward on 2-3-4-5 ART products. As you should remember from an earlier CC, they have negotiated options on additional space that will enable them to manufacture without help (or so it would seem). What they would need, as NH has previously noted, would be a partner for sales and marketing; as these capabilities are not part of the Elite organizational infrastructure. In fact, the costs to acquire or develop those capabilities makes no sense; which means they will absolutely need a partner for this effort. So, if we fit the pieces of the puzzle together to understand the strategic direction of the company, I believe that a decision to not engage in a partnership for sales & marketing means they will be bought out before approval. As the pieces fit, there is simply no alternative. But, I am already on record as saying I believe they will have a buy out offer before EOY 2015.
