When no money is attached to what's being called a milestone, almost anything the company wishes can be called a milestone. If there were a partnership, and if at specified points money was paid by one partner to the other, those payments would truly be defined milestones that are achieved as they're truly material events.
I believe most companies announce the acceptance of a filing for approval by regulators, but the filing, and acceptance of something like an IND to permit a trial to be started is something many companies don't announce, unless they are truly milestones in a partnership and they're receiving substantial money. Investors frequently discover new trials in the Clinical Trials database for trials that haven't been formally announced.
I believe we'll get a PR for the acceptance of the UK filing once the company is notified. It could be this week, or next. The question may be, do they also announce an Annual Meeting, or are they waiting for something more before it's announced.
I for one certainly learned how secretly discussions could be held in the recent IMGN buyout offer. Many people were speaking about a buyout at some point in the future, but none had any idea that it was coming so shortly, and for so little, so fast. The same thing can be said for partnerships.
Gary
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