Any "trial news" on the already existing PHASE II and III, Mirror or Marvel or Regen trials?? Interesting the new "financing note news" is released right at close of market on Friday, followed now on Monday AM prior to market open by the "phase ONE" I guess "update" about this existing Phase ONE, FIVE person Mexico "trial"? Perfect "timing" IMHO.
From this AM PR:
" "We are looking forward to expanding this trial to include more clinical sites and patients.""
Interesting IMO, they just took on a convertible debt note deal, with extremely harsh terms (up front discount, high interest rate, steeply discounted shares, etc) that's for a grand total of less than $200K total dollars it appears- so what are they going to fund this "expanding trial" with? Their existing trials that are much further along than this small phase I, five person Mexico trial, all those seem to be stalled out for lack of "funding" - so what's gonna fund this additional trial and its "expansion"? And how and when and where? Is it going to be a phase II now? Do they ever publish these PR proclaimed "results" in any peer reviewed journals or similar, or is it always just what they report in their own PR? Why do they never publish anything in journals, at least not that I'm aware of, at least not that I've seen recently (past several years) that I am aware of?
If they needed that cash so bad as to be willing to take on this very recent (last Friday) "Magna" convertible debt, highly dilutive "note" for about $200K total dollars (not even a month or two's cash use per their recent SEC filings), then how are they going to fund and "expand" this phase I trial? Do the Regen and Marvel and Mirror trials- all just remain "parked" on the side lines, I guess?
From last 10-Q filing, end Q-2, 2014, PAGE 27:
"We are seeking to secure sufficient funds to reinitiate enrollment in the MARVEL and REGEN trials. If we successfully secure such funds, we intend to re-engage a contract research organization, or CRO, investigators and certain suppliers to advance such trials. We have initiated and enrolled our first patient in the MIRROR trial in 2013. The trial is very similar to the MARVEL trial but focusses on sites outside the US. We will continue enrollment in the MIRROR trial once we have secured sufficient funds."
So what exactly is the real "news" in this AM's PR - not sure I really understand it or see what it's supposed to lead too and how? Their other much larger, much more "mature" trials aren't progressing for "lack of funding", and this is a very small, 5 person trial in Mexico with nothing but an "update"- so what comes next, or where does this really lead? Is anything going to be published in a major, peer review journal about these reported "results"?
Not seeing how this changes much IMO? That's just my 2 cents.
AI
