Regarding the last CC and Katie’s remarks,
It is true that SK’s remarks on Sept 11 created some room for uncertainty as to why the Company could not confirm the start of additional AV trials before year end as previously announced.
However, far more important is that, in a PR four days later, SK came out loud and strong on the really big issue, namely, how well is Bavi doing in the clinic. In the Sept 15 PR he stated:
“As Bavi advances in AV and AC clinical studies, we are INCREASINGLY ENTHUSIASTIC about the clinical potential of its unique mechanism.”
There is only one way a judge would read this statement. SK is saying:
THE AC AND AV CLINICAL TRIALS ARE GOING WELL AND WE ARE ENTHUSIASTIC ABOUT THE RESULTS WE ARE SEEING.
Anyone who gets the “nevous Nellies” (or should I say “nervous Katies”) after reading this SK remark in print doesn’t understand the legal liabilities created by such a statement. “We are increasingly enthusiastic” is not a forward looking statement. It is an extraordinarily clear present tense statement that carries full legal liability. On Sept 15 SK boldly stated that the trials are going so well that he is “enthusiastic” about what he is seeing. Do you really think SK is so stupid as to expose himself to massive litigation if this statement were not well supported by strong clinical data?
While the Company has slipped by a month or two in starting AV trials for new indications, far more important is that the Company has:
1. Greatly accelerated its cancer program through Indian clinical trials that will quickly produce the data needed to close BP deals, and
2. Confirmed publicly, and with legal liability, that management is “enthusiastic” about the results they are seeing in both the AV and AC trials.
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Separately, I love the diplomatic way David King gave public notice today of the Company’s new, kick-ass licensing program:
"We believe that the breadth of this patent's allowed claims make it relevant to many of the researchers pursuing targeted combination therapy approaches based on destroying the essential blood supply of tumors. Sub-licenses to our VTA intellectual property will provide them with freedom to operate in this area, and this new patent should therefore be a valuable addition to our business development initiatives."
