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Saturday, November 10, 2018 11:02:36 AM
9/8/17 10-K --- **** No Business Development Terms ****
11/8/17 10-Q pg28
The Company expects to seek to obtain additional funding through business development activities (i.e. licensing and partnerships) and future equity issuances. There can be no assurance as to the availability or terms upon which such financing and capital might be available to us.
2.7.18 pg21 10-Q
Business Development Activities
A key strategic priority for the Company remains the out-licensing of its mid-stage, first-in-class clinical assets to global and/or specialty pharmaceutical companies who have expressed an interest in our pipeline. Successfully securing partnerships would afford the Company access to immediate and potentially recurring sources of non-dilutive capital, including upfront fees, milestone-based payments and tiered royalties.
The Company devotes most of its efforts and resources on business development and the clinical trials of its compounds.
5/10/18 pg 20 10-Q
Business Development Activities
The Company is engaged in discussions and negotiations regarding the out-licensing of its mid-stage, first-in-class clinical assets to global and/or specialty pharmaceutical companies who have expressed an interest in one or more assets in our pipeline. Successfully securing partnerships would afford the Company access to immediate and potentially recurring sources of non-dilutive capital, including upfront fees, milestone-based payments and tiered royalties.
Recently, we released results from our completed Phase 2 Brilacidin study on Oral Mucositis. The results have attracted inquiries, additional confidential disclosure agreements, and discussions with pharmaceutical companies.
pg29 We are actively engaged in licensing discussions with global pharmaceutical companies. Successfully securing partnerships would afford the Company access to immediate and potentially recurring sources of non-dilutive capital, including upfront fees, milestone-based payments and tiered royalties. There can be no assurance that the Company will be successful in these business development activities.
9/11/18 10-K
pg 5
In the ordinary course of business, we engage in a continual review of opportunities to license our drug compounds and enter into partnering, joint development or similar arrangements with other companies. We currently, and generally at any time, have such opportunities in various stages of active review, including, for example, entry into indications of interest and term sheets and participation in preliminary discussions and negotiations. Any such transaction could be material to us.
pg43
The Company signed a non-binding term sheet in August 2018 with a global pharmaceutical company for the licensing/rights to Brilacidin for treating oral mucositis and inflammatory bowel diseases. Initial payments, milestone payments and royalties are being negotiated in accordance with the non-binding term sheet. The pharmaceutical company is now engaged in further due diligence. Management can offer no assurances that the parties will enter into a binding definitive agreement.
Nov8th 2018 10-Q
Business Development and Licensing pg 19
The Company is actively engaged in business development and licensing initiatives with multiple specialty and global pharmaceutical companies across its entire pipeline of drugs. From time to time, the Company may be party to various indications of interest and term sheets and participate in preliminary discussions and negotiations regarding potential licensing or partnership arrangements. It remains the Company’s primary objective to complete licensing deals, territorial and/or global, to provide access to non-dilutive capital to advance clinical assets forward in the most expeditious and cost-effective manner. The Company can make no assurance that partnerships will occur, but is committed toward executing on these potential alliance and partnership opportunities.
Here are some fun quotes from many of the SEC doc's:
While utilizing all available tools to defend the Company and its assets against fake news, there is limited regulatory control, making fake news an ongoing concern for any public company. While we move forward in our business development strategies in good faith, there are no assurances that we will not face more fake news or similar tactics by bad actors in the future, and the market price of our common stock may decline as a result of their actions or the action of other short sellers.
I like this one from the last Q, it shows that they are serious and feel confident!!! IMO
The lease included an automatic renewal provision for a term of five years from September 30, 2018 to September 30, 2023, and requires monthly payments of approximately $19,000. The total square footage of the space is substantially more than what is currently needed for our operations; the majority of the space is a laboratory. The Company believes, however, that if we are successful with advancing our Brilacidin Oral Mucositis and/or Prurisol Psoriasis programs into confirmatory studies, we will need all, or most of, the space as we could save substantial monies by doing in house functions that would otherwise be outsourced to contract research organizations. In the interim, we are planning to sublet laboratory space as we are now focused on conducting clinical studies.
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