"Not bad, P data partial payment made, partnership discussions still ongoing, manufacturing almost complete for B and K still alive... Enough positives to keep the dreams alive..."
Neutral at best, imo. I think it was a post by PetemanTx earlier, who advised not to (paraphrasing)expect anything major from this 10q.
From the filing, bottom of page 18: On November 2, 2018, the Company notified the holders of the warrants of the Company’s election to compel the exercise of $250,000 of warrants, which exercise is scheduled to occur on or about November 8, 2018. In addition, subject to the satisfaction of certain circumstances, the Company may call for cancellation any or all of the warrants following 90 days after their issuance, for a payment in cash equal to 8% of the aggregate exercise price of the warrants being called. The warrants subject to any such call notice will be cancelled 30 days following the Company’s payment of the call fee, provided that the warrant holders have not exercised the warrants prior to cancellation.
The Company intends to use the net proceeds from the offering for general corporate purposes, including research and development.
Also from the filing, page 21, under prurisol:The Company has completed a randomized, double-blind, parallel-group, placebo-controlled Phase 2b trial of Prurisol for approximately 189 subjects with moderate to severe plaque psoriasis. The treatment group arms are Prurisol 300mg, Placebo, Prurisol 400mg (Ratio 3:3:1) with a treatment duration of 12 weeks. We currently await statistical analysis of the results pending payment by the Company of amounts due to the research organization resulting in part from cost overruns. A partial payment was made recently after the Company secured additional financing, with additional payments planned. Further clinical development of the Prurisol program will be determined once full study data are unblinded and available for analysis.
Expenditures on Prurisol were approximately $0.1 million and $1.8 million during the quarter ended September 30, 2018 and 2017, respectively. We expect expenditures on Prurisol to continue in future reporting periods, as we complete analysis of the study. We have entered into multiple non-disclosure agreements with pharmaceutical companies that enable us to continue ongoing discussions regarding potential partnering should the trial results support such a relationship.
$0.1 million, or $100,000. Would be nice to know, as an investor, what the balance is. From page 6, cash balance as of 9/30/18 was $306,000. Bear in mind they continue to require ~ 2M/qtr($2,000,000/4=$500,000/month).
We'll see.
