Friday, January 05, 2018 9:06:47 AM
So what is the IP worth?
From 12-2017 CC excerpts from Lias
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=136837386
As discussed, during our Q1 earnings call last September (9-11-17), the company is undergoing a broad-scale transformation, the goals of which are to shift complete focus to the Avid Bioservices contract development and mfg. business [CDMO] and the complete divestiture of all of Peregrine's legacy R&D assets, which include bavituximab.
Before turning over the call to Paul, I'd like to address 2 addl. steps that must be completed in order to finalize & formalize this transition: First, as discussed previously, we are in active discussions to divest the legacy Peregrine R&D assets and have taken action to formally wind down all R&D related activities not required to effect the transaction.
We are currently taking steps to effect this transition, and we expect to have the entire process complete in early 2018.
Sunrise presentation…. 10-17-17 shows bavi helps checkpoint I-O and enlarges footprint… ie more people can take keytruda/opdivo
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=135586168
Sept 17 CC SK’s comments on R&D
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=134683499
As we focus on the success of the CDMO business, we have been evaluating the best options for divesting our R&D assets. The goal being to find a partner that will make a significant short-term investment in the bavituximab program in order to validate the subset analysis from the Phase III SUNRISE trial and build on recent data from our collaborators. The subset analysis, which supports the combination of bavituximab with checkpoint inhibitors, is compelling but needs further clinical validation. This data, combined with findings from our collaborators at Memorial Sloan Kettering Cancer Center (MSKCC – See 4-14-17: http://tinyurl.com/lxlltd6 ) supporting combinations with cellular therapies including CAR-T and the ongoing trials from our partners at the National Comprehensive Cancer Network (NCCN), all as outlined in our earnings release, have bolstered our belief that our bavituximab program can be successfully advanced in the right hands. However, there is still much work to be done to realize this value. For this reason, we have concluded that in order to best position Peregrine’s R&D assets for successful development, they should be advanced by a partner with the appropriate expertise and ample resources to invest in the necessary clinical trials. To that end, we have been working diligently towards the transformation of the overall business to becoming a pure-play CDMO, while assessing the best strategic options for the R&D assets that would allow stockholders to directly see the future value from their continued developments. By partnering and eliminating future R&D expenditures, we believe we are best positioning Avid for future growth.
In Q&A
GZ: ”Okay. Roger, welcome and good luck in meeting objectives. I also have a question for Steve regarding bavituximab, because you barely touched on it in your prepared remarks. Could you remind me of what are some of the near-term milestones? Are you going to be presenting anything at SITC’17 [Nov8-12 2017 Natl-Harbor MD], for example, or any other medical conferences?”
Steve King: So for bavituximab, we have a few things on the horizon. Obviously, we recently announced that the NCCN studies are starting to kickoff and one of those I think that’s particularly important is a combination with Keytruda in Head & Neck cancer. Clearly the data, the subset analysis from the SUNRISE trial really supports moving these kind of combinations forward, naturally where we feel that the focus of the program should be in moving forward. In addition, we have other investigators who have expressed interest in running studies that we hopefully would be able to start over the near term with other combinations with the checkpoint inhibitors in actually new indications. And so, those are some of the milestones. Absolutely, you’ll continue to see data coming out at conferences like SITC and AACR and a series of other conferences highlighting both the potential of bavi in combination with checkpoint inhibitors and combinations with cellular therapies such as CAR-T and other cellular therapies that are emerging. I think importantly from the standpoint of finding the right partner for the program, it’s really important that it is a living program and that it is active and that we’re continuing to garner the sort of interest we are from key opinion leaders and from others who really want to see the program advancing and do think it could potentially be a perfect fit with these I/O combinations. So yes, I think you’ll see lots of information coming out. And again, hopefully we’re able to find that right partner here over the short term that will really be able to not just oversee these studies but really boost the program, because it’s very important that we find a partner that’s willing to invest significant dollars upfront here in advancing the program, because we need to really illustrate the proof of concept that the subset analysis from the SUNRISE study is valid
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