Good point. One thought: LPAD requests, as I understand through my reading, require (or at least it’s highly suggested) regular contact with the FDA during the entire process. And because it’s an entirely new regulatory construct, I have to believe they have been back and forth with some frequency going back to early 2018.
That’s why I believe we’re likelier to hear something sooner rather than later, and that the outcome of the FDA meeting may have a substantial outcome for CRMD.
As Big Pharma, do you wait, do you hedge or so you go all in? At this point, I think there is significant premium based on the full dataset. Granted it’s the FDA and nothing is a lock—nor should there be—but this is about as close as they come.
More telling, IMO, is the BOD stock awards in January. They were the earliest ever issued but most importantly, they are the first that grant flexibility for Board members to exercise 1/12 of the award each month. This isn’t the same language included in the option grants to the C Suite folks—their awards are still only exercisable at the end of each year.
That telegraphs, at least to me, that the entire Board is in play, and that some here today may not be here in 1 month, 2 months, 3 months, etc; while the C Suite folks are the intellectual capital needed by Big Pharma to guide Neutrolin to market.
Coupled with the filing from Elliot on 3 Jan, which has some peculiar language with an end date 30 April 2019, I am hopeful something gets done near term.
Anyways, none of my jibber jabber really means anything—what will happen will happen. But boy is it fun to speculate!
Happy trading today!
