Vascular Biogenics Ltd (VBLT)

[gr8db8]

I thought it was a very good update. I made note of the following:

1) GLOBE recruitment is 5 months ahead of schedule. This accelerates the trial, including the interim analysis. Recruiting is almost complete.

2) Interim analysis is now scheduled for mid-2017, but it could be later (if VB-111 outperforms expectations).

3) He seems to be hinting at a low death rate and a potential for the FDA to terminate the trial early if they observe that the OS rate is better than historic data. Avastin has no OS benefit .. or PFS benefit. So VB-111 only has to improve on the median OS, which I believe is in the 3 to 3.5 month range.

4) They are meeting with the FDA to agree on the number of events. This is something to look for in next quarter's meeting.

5) The company is only going to run two trials: GLOBE and ovarian (phase 3 coming after FDA approval)

6) They have an agreement with the Israeli government for facilities. That's why the new facilities do not have a huge impact on their cash position.

7) Sounds like there are companies that are interested in working with (or acquiring?) VBL but the CEO thinks the valuation is too low.