My thoughts and impressions of the CTIX Shareholder meeting:
I was able to ask 5 questions during the Q&A. I was lucky that before the Q&A started that Leo had made a comment during his presentation that ’IF WE HAD MORE MONEY WE WOULD BE DOING SO MUCH MORE,.. MORE TRIALS, MORE STUDIES, ETC,..’
1) Why, when we have two of the most timely drugs one can imagine, (Kevetrin with the p53 story and Brilacidin with the Resistance story), when articles are being written around the world on a daily basis on both these subjects,... why is it that we cannot take advantage of this amazing press,..? We have two drugs that are showing strong evidence that we have the solution to these 2 huge world health problems. I said to Leo that he is great for progressing the clinical trials and saving money by getting grants, yet here we sit, the world’s best kept secret,... I asked him why does he not dedicate more time and effort into capitalizing on our timely drugs and solve the money problem.
REPLY: He admitted that we should be doing more in that arena. He does not think a PR company could be the answer but he did repeat what he had announced earlier in the meeting that he will be looking for a big name BoD person. (I asked him to commit that it would be done in the next 6 months and he said YES,.. and that he has already started looking)
2) For our plans to uplist,... why not uplist to the NYSE (old AMEX) and then next year move to the Nasdaq when the we are no longer under foot of shorters and flippers/traders. I reminded him that investors stay away in droves when we are sitting on the Pink Sheets and that any of the many news items coming our way in the next 6 months might not have the power to get us over $2 and keep us there for another 90 days,... especially with Aspire, Aruda, Shorts Flippers, and Traders so active with our stock.
REPLY: He admitted that AMEX only requires $2 for 3 days, but he wasn’t crazy about the idea wanting instead to go directly to the Nasdaq. His lawyer also did not like the idea of doing paper work twice and paying twice. Later when alone with him and the lawyer I was able to push the point more,... the lawyer insisted that we will definitely uplist to the Nasdaq in 2016 and I replied back that that was what was said at the beginning of 2015,... and that we should not take the risk. I suggested that they have the application in place,... then time some important news items to all come out at the same time,... get us over $2 for 3 days and then announce we are on the old AMEX.
( I will continue to e-mail him and try to drive home the importance of doing a coordinated effort to get us off the pink sheets)
3) Wouldn’t it be better to end the K trial now instead of giving the OK to DF to continue (and perhaps get special permission for the FDA that the patients still taking K can continue to do so.)
REPLY: He said that the fact that the K trial continuing will not slow the start of any Phase 2 K trials ,... I replied that we need the final report from DF as soon as we can,... and for it to be delayed will only hamper the company getting a higher share price and then uplisting which then translates into faster trails, and more trials and thus saving more lives in the long run.
(I didn’t feel that he was convinced at all and that the decision had already been made) He commented that for a prestigious institute like DF to want to continue as they do is a great positive for Kevetrin.
4) I asked if there were still patients that were dosing with Kevetrin
REPLY: Yes
5) I asked how long would a Phase 3 B trial take.
REPLY: About 18 months,... but the good news was that they will analyse the first 200 patients and report Top Line Data for them,.. if all looks good the rest of the 500 will continue and the the second 700 after that.
Misc Info
1) They are dealing with a world reknown CRO for the B Phase 3 trial. Nothing signed yet but looks good as the CRO has already invested alot of time and money in the project. They have already had a KICK-OFF meeting with them.
2) Leo seems really intent on making MAKO et all pay for what they did.
3) There are in no way concerned with the competition for the B-ABSSSI drug. He feels that we will capture a BIG market if we pass Phase 3. They plan to go head to head with both the best solution and also the quickest solution out there. FDA is already OK with the two different drugs they will use as comparators
4) I enjoyed the tour of the offices and labs,... there is one office dedicated solely to FDA filings and communications. Whenever an FDA person shows up they have their place.
5) Neat that they have clean rooms where they have access to some of the pathogens they work with.
6) Said drug for Autism is still a ways off,... as it is a very political drug.
I enjoyed meeting Leo and Dr Menon. I trust them even more than before (and I trusted them already). I was hoping he would have a golf game as part of the next Shareholder meeting but for all his positive qualities,... he does not play golf.
He apologized that he cannot answer all our e-mails but he did say that I can write him at any time,... which I shall take full advantage of.
I am hoping to send him a list of questions I would have liked to ask but could not because of the limitations given. I will report back here of any answers I get.
I apologize for any typo’s, spelling mistakes, bad grammar, or bad composition,... I am in IT and writing is not my thing!!
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