Many deals are done post-Phase 1 for very promising drugs. It is a function of BP interest and available capital vs expected development costs. We know there is some interest, but it wasn't enough for a post-Phase 1 deal. The BP wanted to see p53 modulation and safe pill. We need the capital and would take a good deal if offered. At market terms it would very likely be cheaper capital then our current share price.
The pill is not a likely problem; the toxicology work done so far looks good and Kevetrin looks to be bioavailable from the gut. The hope is that our stunted (n=2) Phase 2 provided adequate evidence for the P53 MOAs for this BP. Folks shouldn't forget what happened with Prurisol. Nothing is a slam dunk, and the company's view is going to be optimistic, which is not always 'realistic'.
Ignore pumpers, I hope everyone sees now how they have no clue. Ignore bashers too. Stay focused like investors providing capital to a young risky biotech, because that's what you're doing. GLTA :)
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