But the real point is if they had released a statement on Friday, would it have been different. I am confident those days were used to be sure what they were saying was as correct and accurate as possible. We will never know what would have been said on Friday. THAT IS WHY THE LAW ALLOWS FOR 4 DAYS TO DISCLOSE MATERIAL EVENTS!!!! They don't want a knee-jerk reaction, good or bad to new information.
On another note, how many people now understand how close they were to a partnership before they realized the problem with the study and have wondered "why" we have been "in talks" for so long if the study results were still so good even with the problem? They told us today... the realization of the different MOA. Can you imagine if we had partnered with some BP and then realized the new MOA and BAVI would work better on either different indications or worse yet, with a competitor's drug?
Remenber that King reiterated they were looking for a partner for the US and to retain as much IP rights as possible, even within the US. Since BAVI may apply to many indications, all you can do is partner Bavi as a whole, you can't partner with one BP for one indication and a different combination for some other indication. That is why it is critical they partner with the right BP. It used to be all they needed was marketing and distribution. Now they need to consider the potential partner's IP pipeline for how it will combine with BAVI.
While I hope there is a partner soon to slow/stop the dilution, I still prefer the deal that bring the biggest return, and yes, that may take more than 6 months.
I was also happy to hear them mention more than once the position AVID is in to support production of BAVI in amounts to support commercialization. If they really thought BAVI was 2-3 years away from approval due to having to run the complete Phase III why would you make those kinds of statements? In that same line, I was dissapointed that when PPHM did the soft-shoe around the question about AVID's capacity, the analyst didn't follow up with what is their utilization percentage. I wonder if they are holding back the utilization percentage in case there is an AA as they obviously have a year's worth of "backlog" that is going to generate the $18-$22M in revenue. If they had excess capacity, why not use it to generate more revenue?
Those that didn't think there was significant material information in the call must have been listening into a different conference call than I did!
JBAIN
