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enemem

06/19/09 4:27 PM

#27002 RE: meixatech #27001

The whole SA thing is probably moot. Because of their finances and the number of enrollees they currently have, it's unlikely the SA trial can be completed before cor runs out of funds. They are either going to have to do a deal based on what they have with SA somehow optioned in, or do another dilutive financing to complete SA and attempt to build a deal around that.

IMO this last option would be beyond foolish. With the amount of funds they could raise, and the enrollment difficulties they are having, it is unclear that they could complete the study before the funds ran out. Even if they completed the study, they would be negotiating a partnership based on weak POC (look at the trial design) with no cash on hand and hence no leverage.

We're almost done here, one way or another.