It's a nest egg - to hatch when needed, I guess. Although they said at one point recently (Seymour at that conference on the web - I listened) that financing was a serious endeavour-concern for them and was something to be discussed with participants there in private sessions. Seymour has said recently that money is needed, and is holding up progress if I read him rightly. Now who needs the financiers? I'm not sure if they are to be in the picture or not - methinks this public funding says, to me, the financiers are not needed. But if more than $40 million is needed then I suppose they might be in the picture or another shelf is needed. Could be the financiers will buy a tranche of shares and sell them or keep them depending on circumstances but we get the $40 million or part thereof to use as needed.
In figuring out the amount needed for this shelf I imagine that they figured what would be appropriate for the near future for various eventualities and this is what they came up with. I would have gone for MORE! Never hurts to show you mean business. And yet again they have said all along and quite recently that the plan is and always has been to involve big pharmas in distribution and manufacture. I have seen other startups that get big pharma footing the bill early on in the FDA process. Are we different? Could be. How? All I can think is that what we offer is miles above what these other startups are offering. If I had my druthers, I'd involve big pharma to suit US (!!) and go into manufacture as well to supply the market we keep to ourselves. Leave what we do not want to serve to big pharma and keep the rest and best for US. Dengue, for example - keep that for us (and Eva!!) exclusively and supply the market worldwide. For EKC, involve big pharma - a pick and choose approach. That way we gain the experience and GROW. Does that make sense? Alls I'm trying to do is make sense out of this $40 million. No money in Dengue? Ask those countries like Sri Lanka and Malasia and Indonesia what they think it is worth!
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