Much of what you say I agree with KT but, "understanding who we are as a company" is critical and going it alone is not really a viable option for shareholders.
We are down to the short days now. It is very important that the management of PPHM really understand who and what they are and not try to be something they are ill suited for. IMO PPHM is an excellent research boutique that sorely needs partners. If it tries to become a major manufacturing unit or to go it alone as a drug development company and marketing company, while "underfinanced", there is nothing but terminal dilution with no guarantee of success.
Therefore, as most would agree, we need to get on with partnering.
Without any advance PR announcement, I expect the Lazard conference to be more of the same. It will be interesting to see if mgmt takes the hint and makes a more business like presentation. It will be particularly interesting to see if anyone at Lazard asks more intelligent questions about the business side and projected timing to partnering and ATM termination.
I think all the "sellers" in this stock are aware of FDA meeting for Cotara and high probability of FDA granting a phase III. The "sellers" are not fearful of this event. The much more important question then becomes whether PPHM gets an SPA allowing them or a partner to sell the product during the projected two year phase III. Without an SPA, the question is how quickly PPHM can partner Cotara and how many "front dollars".
PPHM would completely misidentify itself were it to go it alone on phase III with no assurance of ever being commercially viable. PPHM might get lucky and partner Europe and try to hold on to the USA. The only other tack that occurs to me would be to finance Cotara in a separate vehicle with PPHM acting as a sort of GP. IMO I dont think PPHM mgmt has shown this kind of financial creativity and I would put it at lower probability. Once we see the complete FDA decision, speculation as to partnering may pick up.
Pretty much the same scenario for Bavi viral and Bavi NSCLC. In the same way PPHM mgmt insists they "dont need money" or will have "no problem accessing money" , mgmt also insists that they are prepared to "go it alone" if they don't get what they feel is a fair market value for their products. Both sets of statements appear to be false negotiating positions IMO "on the merits". IMO there might be some pick up in speculative buying should the Bavi numbers on these clinicals be positive -- and again--- relative to partnering.
Hint to PPHM mgmt: If you can't even fool your retail shareholders, there is virtually no chance of fooling BP which is familiar with the time and dollars for clinicals and marketing. If you can't even fool your retail shareholders, IMO there is virtually no chance of fooling major financing which is much more sophisticated about business plans and cash flow than say the CFO of PPHM. So LET'S GET ON WITH PARTNERING.
Even "ANDS", one of the few company with as bad a ten year chart or worse than PPHM, was able to partner and able to partner on Phase II data. LET'S GET ON WITH PARTNERING.
Best Regards,
RRdog.
