Tuesday, May 22, 2018 9:50:57 AM
But they still do not demonstrate that they have scaled up the combined product (micelle + ligand) beyond 10-20 g. They do appear confident that they can do so, but as of the effective date of the filing, they have not.
They also quite clearly state that their staff size has been pared down quite a bit, which does not permit them to run scale-up phases in parallel. They have to focus the whole crew on one step at a time.
I do think they may be a bit optimistic about the 'enough cash for a year' bit as well.
But - no new red flags.
“The two most powerful warriors are patience and time.”
- Leo Nikolaevich Tolstoy
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