Spideboy - Yea, no guidance has been given about the start of Phase III. I was hoping there would have been more information provided in June but like you said, I think City of Hope staff is trained and ready to go. This trial has seen a lot of preparation and coordination (as expected) so I understand if the start date is pushed back. I'd rather see this trial properly executed than rushing to get started. Since Ralph Kern started with the company, I like the most recent PR of worldwide distribution partnership being made. I believe he played a large part in this effort and we're seeing a foundation being built for future worldwide distribution. I still love that he joined BCLI from Biogen, that speaks volumes.
As for cash and funding of Phase 3 - You're correct about the cash 2 million burn rate and 8.3 million at the end of the first quarter. I agree and that I'd rather see dilution in the short term to raise capital to fund the Phase III trial. Given the company's financial track record, they haven't taken loans or partnered with a large company for funding. I expect them to use to dilution or maybe we'll get lucky and they'll receive another grant. It does concern me about funding since we've heard nothing. The IIA 2 million grant was huge but we need just a little more. I'm not sure about the cost of funding the Phase III but I suspect you're accurate to say $10 million. I thought I heard that number during a company update. I think the company's effort to go on the road and give multiple presentations at biotech investor conferences was to bump the share price up. I think it worked at first but since then it's cooled off.
Looking forward - As a long term investor, the only short term PR or information on my wish list is the following.. haha.
1. I hope they release information stating that Phase III is fully funded and when it officially starts.
Future PR's that'll help;
2. Leading into 2018, I hope they gain approval for treatment in Canada. This would provide instant revenue while they're compiling Phase III results.
Media Coverage - The ice bucket challenge was a huge success and if they have positive Phase III results, that alone will bump the stock up.. FDA approval, I can't imagine where this would trade. Some have speculated $12 but FDA approval would spark a huge emotional response and it would go much higher.
