Excellent correspondence Jeff, thanks!!! The only other question(s) that would have been great to ask revlves around the question of why not submit Libigel for TRT (not HSDD); also I would have asked about the possibility of submitting Libigel in the EMEA given that Intrinsa was previously approved.
Now, these two statements are the most important responses that everyone should walk away with:
1) Please note that there is no additional dilution to BioSante stockholders due to the potential reverse split. BioSante stockholders will own approximately 47 percent of the combined company AFTER the reverse split. - this is what I and others have been trying to tell people on this board...the planned R/S is purely for the purpose of absorbing the merger without having to increase the number of outstanding shares, period!
2) You are quite correct that the merged company could decide not to conduct the required efficacy trials and may choose to license out or sell LibiGel to another company more able to fund the trials. That is where the CVRs come in. - this may be the plan which would then address my two questions about submitting Libigel for TRT and to the European market!
Nice job Jeff, thanks!!!
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