>I think they should be treating MCI or prodromal patients and treating them for up to 4 years.<
I believe treating MCI or prodromal patients was the idea behind ELDN005. I believe ELND005 was effective at inhibiting aggregation and the toxic effects of beta-amyloid but failed to meet it's endpoints. Why would bapineuzumab work on MCI or prodromal patients IF ELND005 failed? You call it a "abeta hammer". Perhaps it is having a postive effect (IF it is having any effect)due to an unintended consequence of all it's actions.
Allon previously tested their tau drug in patients with MCI in a Phase 2 ( http://www.allontherapeutics.com/product-development/davunetide/ ) . Do you have any opinions on their prior results or the approach in general? They are running a Phase 2/3 in progressive supranuclear palsy now, but it doesn't look like that will be completed until end of 2012. They need a partner for any AD trials.
It looks like they only have a quarter or so left of cash so there's no way I would consider them unless they addressed the funding issues via a dilutive offering or some partnering deal, which would likely be struck on unfavorable terms given their lack of bargaining strength.