Replies to post #1968 on Conatus Pharmaceuticals Inc. (CNAT)

[drugmanrx]

I won't use that as promotion tool.

"One of Conatus’s biggest assets is financial backing from Novartis Pharmaceuticals(Nasdaq: NVS). A large bioscience company does not throw out money without conducting proper due diligence. On December 5th, the same day the data came out, Conatus converted a promissory note granted to Novartis 2,882,519 shares in exchange for $15 million. If you do the math that comes out to around $5.2 per share."

Check out history of this similar agreement between of Novo Nordisk and Aradigm for oral inhaled insulin. (about 50 million)

Aradigm Strikes Deal to Develop Insulin Inhaler With Novo Nordisk

https://www.wsj.com/articles/SB896915774965176500

During trials things did not go as well as Novo Nordisk thought they would and just dropped the partnership.