According to this interview with Moreau on Oct 2nd it would not immediately move into Phase 3. He specifically states that it would take 3 months after the 2b trial is over before Phase 3 would begin. He alludes to needing additional funding for it as well. He said the results would come out July/August.
For the results of Phase 2b he said they should have data by the end of Q4. This data will be presented to the FDA for an EUA if it shows efficacy. Every treatment company I'm following is in a race to get their own EUA. Most are submitting before completing a Phase 3 trial. (Regeneron, Lily, Relief)
He said there are 3 options after 2b:
1. No efficacy - it's over, move on
2. Shows compelling efficacy but not significant enough - continue trial to P3, starts 3 months after 2b is over with data next Summer (July/August)
3. It shows enough efficacy to apply for EUA and immediately start distribution globally. Phase three would continue in background but no longer relevant in any way.
It's number 3 above where they would sell either the licensing or the whole company. It's number 3 above that has me interested in investing.
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