My point is a very simple one. Have you EVER heard via ACT they are waiting on NIH cell line approval to move forward? Or has it been more like the following? If in fact they are waiting on NIH approval, then saying so would be a novel idea?
“The Company enters 2011 in its strongest financial position ever,” said Gary Rabin, ACT’s Interim Chairman and CEO. “Through a combination of the cash on hand and ability to sell Socius additional Preferred Stock, we believe we have the financial resources to take our lead program in Stargardt’s Disease, a form of juvenile macular degeneration, well into clinical development and to move our program for treating Dry Age-Related Macular Degeneration through the clinic if we receive FDA clearance. Less than one year ago, the Company was significantly in debt and lacked the financial resources to take even one program through the clinic. Today, we are essentially debt-free and have the financial ability to move both of our promising programs through the clinic. We believe 2011 will be a year filled with exciting developments as we begin to get data from these programs.”
