Hi Midas,
Thanks for bringing this to my attention.
Indeed a positive news day for CANF.
And while I don't want to take anything away from this, I still feel the company is a long way off.
We know that they are recruiting for a pivotal phase 3 trial for this Child Pugh B Liver cancer group, and they they need to run another "pivotal" study in the psoriasis indication.
It seems a key reason for Romania to have approved this for compassionate use is that it was one of their own citizens in the prior trial that achieved a complete response and therefore is going to stay on the drug. It would make sense for Romania to do this to keep that citizen alive and thus blanket compassionate approve in the country.
This said however, and as mentioned in the PR, compassionate use has already been in effect in Israel for some time. Thus with rather little or almost no revenues from Isreal despite it being compassionate use for many years, we can assume that this addition of Romania will not translate to any meaningful revenues either.
Thus while I am indeed happy for those in Romania that will now be able to take the product, I still feel the CANF is still running out of cash quickly and will need to dilute by end of year.
I fully believe in their products to have a place in the market, the issue is just that management has an uncanny ability to design the clinical studies in such a away that they fail the primary endpoint(s) making progress difficult. Snatching defeat from the jaws of victory as it were.
I will of course continue to follow all developments with CANF :)
