A quick way to fix RSPI's funding problem is to announce the company is going to focus on cannabinoids, and will be expanding its cannabis related assets and programs beyond Dronabinol. In the current funding environment that should attract investors. Raise $10-20 million to start, and build from there.
In addition to bringing in some new cannabinoid assets, having the funds to complete development of the longer acting Dronabinol will greatly increase the value of the Dronabinol franchise, for two reasons -
1) In its current form it only has efficacy in Sleep Apnea for half the night, and that won't cut it. A long acting version will provide a full night's efficacy.
2) Regular Dronabinol is already generic, but the long acting formulation will be proprietary to RSPI and thus be of considerable commercial value, especially considering that this is the only formulation that will work for a full 8 hours.
Lippa needs to get creative and get moving. The amount of interest and funding in this sector is phenomenal. Forget Ampakines (for now) and make RSPI a full fledged cannabis play.
>>> With A Wave Of Consolidation, The Cannabis Industry Rises To The Next Level
Large corporations are still squeamish about investing in cannabis. This means great opportunities for smaller players
At the end of July, the cannabis industry watched as two Canadian companies set a new record. Aurora Cannabis acquired MedReleaf (another Canadian cannabis producer) for CA$3.2 billion — $2.3 billion in U.S. dollars. This, the largest cannabis acquisition to date, created a company capable of producing 570,000 kilograms of high-quality cannabis per year at a cost of below $1 per kilogram.
It was a validating moment for those of us in the industry. Cannabis as a business is still in its infancy. For the most part, we’re a group of entrepreneurs who were willing to take a chance on a product that, until recently, might have landed us in jail (or, at least, in some trouble with state authorities). The increase in mergers and acquisitions shows that we were smart to take the risk. In the first half of 2018, M&A activity nearly doubled from a year earlier to 145 deals in North America, according to Viridian Capital Advisors. Through June 22, public and private cannabis companies have raised $4 billion, up from $1.3 billion just one year ago.
Right now, the biggest deals are happening in Canada, which the U.S. market looks to as our future. While cannabis is still considered a Schedule 1 narcotic at the federal level here (despite the fact that it is legal to use and buy in two-thirds of the nation), the herb was recently legalized in Canada. That has not only paved the way for Canadian citizens to reap the medical and recreational benefits of cannabis, it also means Canadian companies can tap the financial markets, something U.S. companies still struggle to do.
It’s worth noting that Aurora initiated its purchase of MedReleaf in May, a month before the Canadian Senate voted to legalize cannabis. At that point, big public companies were still pretty much shut out of the market. They didn’t want to risk acquiring businesses that might not become nationally legal and even if they wanted to, it’s unlikely banks would have been willing to underwrite or finance such purchases.
Aurora was able to buy MedReleaf in an all-stock deal. In the post-legal Canadian world, the market is now open to all comers as Canadian banks will have no problem working with corporations to finance mergers and acquisitions. <<<
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