LOL quote, "The trials are in negotiations with the FDA and EMA for shorter duration. "
What? Where is there one SHRED of proof of that?
The trial(s) are on hold and going nowhere as OCAT has $12 million approx left to their name and HAVE NO FUNDING FOR A MAJOR, EXPENSIVE, LARGE PHASE II trial(s). LACK OF FUNDING, not some myth of "negotiations" or whatever.
They don't even have down payment money to fund a large scale phase II? Their cash-on-hand is survival mode levels- months of cash left before lights out and that's without funding DIME ONE of a large, VERY, MEGA expensive phase II.
Just filed SEC 10-Q:
"PAGE 7:
"The accompanying consolidated financial statements have been prepared in conformity with GAAP which contemplate continuation of the Company as a going concern. However, as of March 31, 2015, the Company has an accumulated deficit of $356.2 million, recurring losses from operations, and negative working capital which raise substantial doubt about the ability of the Company to continue as a going concern. The ability to continue as a going concern is dependent upon many factors, including the Company’s ability to raise additional capital in a timely manner. The Company has no expectation of generating any meaningful revenues from our product candidates for a substantial period of time and must rely on raising funds in capital transactions to finance our research and development programs. Our future cash requirements will depend on many factors, including the pace and scope of our research and development programs, the costs involved in filing, prosecuting and enforcing patents, and other costs associated with commercializing our potential products. Accordingly, management’s plans to continue as a going concern contemplate raising additional capital including the prior execution of an agreement for a $30 million equity line in late June 2014, of which approximately $12.5 million remains available as of March 31, 2015. There can be no assurances that management can raise the necessary additional capital on favorable terms or at all. The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern." "
That trial isn't on-hold for some imaginary "negotiations"? It's on-hold for LACK OF FUNDING. The amount of money they have left has them labeled by their own auditors and Sr. Mgt as a "GOING CONCERN RISK" and their duly filed SEC documents say just that. $12 million lousy dollars has um keeping the lights on and paying the big ole fat salaries and large overhead bloat (over $2 MILLION a month given the $7 MILLION Q-1 LOSS and burn rate they just booked)- they don't have DIME ONE to put toward getting a large clinical, Phase II trial even backed out of the parking space, let alone underway in any serious manner? They're $10's and $10's of MILLIONS short in the ole financing department.
Reality versus the hype n conjecture.
