Point of Multiple Ph II Trials
Terry, I’ve always thought that for PPHM the point of Ph II trials was to prove up huge commercial potential for Bavi so the Company could do a mega-bucks license with a BP that then completes the Ph III approval process. The more potential we demonstrate for Bavi in multiple Ph II applications, the larger the license in terms of both up the front payment and our downstream royalties.
From everything I’ve heard, the Company recognizes the need to join forces with a BP marketing gorilla to give Bavi all the market penetration it is capable of achieving. The best time to bring in a BP is after you have dramatic Ph II data. But if you are right that PPHM intends to obtain Ph III approval and market Bavi on its own, then I agree with your comments.