I wanted to add..I may be naive but I trust that the one patient who did not respond to treatment in the 207 10mg will be an exception; i.e. that larger data will show much better efficacy than the 17% -15 letters reported by this one patient.
Management seems to be playing it safe by financing at lower level than they would obtain next year. The one point I do not like is their ineffective communication strategy; a transparent communication explaining why they finance now, rather than next year, would alleviate concerns. But finance seems to be at the back of their mind -a necessary hurdle to carrying out their science- so again I am not really concerned.
Some other stocks, like EPIX at its current lower price, are less risky than Genaera but this story might be full of surprises with good results leading to a potential BP.
As for the need to discover a treatment for AMD that reverses the angiogenesis process, I do not see how the current mechanisms of action could lead to this, either with Genr or with the competition. I.e. you can reduces the growth or ideally stop the growth of vessels but how can you erase what is already there...
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