I would say, Peregrine must AT LEAST have the full cost of clinical trials (with the exception of Bavituximab) paid for by OTHER parties. Then they can continue to grow while ALL expenses are paid for and they can do what you suggested with their OWN money, namely extend Avid.
That is a LESSER good solution then getting up-front payments and stuff or even selling 'TEMPORARY' exclusivity for Bavi to BP's. But it is for sure better the putting the burn rate on ZERO because that lifts them out of the future leverage of I-O and that is the leverage we all expect from Bavituximab.
IMO PPHM will have not much trouble making such deals and I see them BEFORE the Annual. CEO King said they would continue to grow I-O/Bavi so they must have some plans in that direction because otherwise he has NOTHING to win, actually EVERYTHING to loose, by making such statements. Understanding the SUNRISE ctrl arm will now be a priority, I expect new next Q/CC at the least or an UPDATE PR before it.
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