I saw and listened to the webcast and my take on the meeting:
STSI will soon use the symbol RCPI. The company is restructuring to become a pharmaceutical company. He said the company is working with the FDA to continue sales of the neutraceutical version. When asked about expanding sales beyond GNC, he said yes, as soon as the FDA approval to sell Anatabine as a neutraceutical is approved. Dr Mullan emphasized the successful results of both animal and human studies to date on Anatabine use to suppress inflammation. He talked about Alzheimers in great length and how inflammation was intimately connected with the development of Alzheimers. He said a defect in a person's genes (DNA) made some people more prone to Alzheimers and that Alzheimers develops over many years, ie over 30 years. He will present preliminary results of the testing done so far shortly. (why would they present results unless postiive?) He talked about Anatabine as applied to Thyroiditis and MS. (both successful). He said the company will apply for NDI status and start the research phase in the second quarter of 2014. He expects to see a phase 1, II, and III plan submitted to the FDA for approval. He sees Anatabine being developed for time-release because of it's short active half life. He did not see it being used as a IV. He went along with the idea of using Anatabine in water when brought up by a participant. He said that there were actually three versions of Anatabine being explored. Clearly, investors were worried about cash-flow and future funding scenerios and possible teaming possibilities. Dr Mullan and Dr Chapman said it is difficult to quantize at this time but things would be better to scope after the phase II completion, ie, my take is that funding could be a problem in 2015 if a teaming, joint venture, or additional investment funding isn't seen by that time. He did not say there were any ongoing discussions about teaming with a large pharmaceutical, nor did anyone ask. (I think this is common with most small biotech firms.) When the disease targets are selected and the research phase is completed, RCPI and we investors will know whether or not we have a winner or not. (I'm betting this company will be a winner,) Dr Mullan just couldn't say that in his position. Ask yourself: why would he stake his career and reputation unless he felt this wasn't going to be a winner? The comments above are only my comments on the discussion presented. Others may have interpreted otherwise.
