CEO Steve King on the TMT Gov’t Contract at yesterday’s (9-13-10) R&R Healthcare Conference in NYC…
http://www.rodmanandrenshaw.com/conferences?id=51 Webcast replay w/Slides: http://www.wsw.com/webcast/rrshq18/pphm SK 9-13-10/R&R, Slide13: “In addition to the oncology applications of the PS-targeting platform, we also have a number of viral indications. We’re currently running a Ph.1B trial in HCV-infected patients – we anticipate completing this trial by YE’10 and having a data point early next year. In addition, we’re very intrigued & very excited to move this into combination-therapy studies as well. We know from pre-clinical data that Bavituximab combines ideally with anti-viral agents, or direct antivirals, because of its immune-modulating function. In the HCV setting, we think this is really ideal as a potential replacement for current drugs like Interferon which have significant toxicities. Again, we look forward to starting some addl. studies in the HCV setting as we move forward. In addition, we have collab’s with quite a number of other universities, incl. UTSW, Duke, Harvard, UC-Irvine – this is looking at other viral indications, such as HIV, Herpes, as well as our work that’s ongoing under our gov’t contract in the VHF area. Under that gov’t contract, we’ve completed the 2-yr. base period – we’ve been very happy with the results so far, and are looking to extend that contract. So far, we’ve recognized $21.6mm of the total $44mm under that contract. In addition, we’re pursuing other addl. govt’ funding opportunities – again, this is a broad-spectrum platform with all kinds of applications, everything from drug-delivery to imaging applications, as well as, again, quite a number of viral & cancer indications.
Q&A: GOV’T CONTRACT (19:13): “The way the gov’t contract was set up is it’s a 5-yr, $44mm contract to study Bavituximab in VHF’s. Essentially the 1st 2 yrs. of the pgm were laid out with the experimental plan already established. Basically, we’ve executed thru that plan as was per the contract. And that was a natural breakpoint at which to look at the data and determine what are the most appropriate animal studies to run going forward. And, we are in the animal-testing phase of looking at the compound. We’re really at the point where we’re getting into more advanced models of the disease, as well as starting to look at some combination-therapy potential of the drug. The plan now is to complete that evaluation, to firmly establish that pgm going forward – then at that point it’ll be a contract modification, and from everything we hear, we s/b moving fwd with addl. animal studies.” F/U Question, SK: “Well, we expected to already have the contract modification completed – it’s still in the works; we’re working very closely with the gov’t and they’ve been very responsive, so we’ll continue to do that and see it thru to the final paperwork.”
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