A question I asked myself yesterday. Researched our filings and the clinical trials.gov site and couldn't find the CRO doing our 2nd stage Lung trial. I found the Indian CRO, SIRI, that did our Catara study. I wouldn't think that is closely held info but maybe it is.
What I do understand about this CRO fiasco is that it happens, not often, but when it does the quilty CRO is responsible for doing a new trial. Though that will cover the cost of the trial it doesn't afford us much comfort in the time and loss stock value which will come along with it. In reading our SEC filings I did find a paragraph related to hiring outside parties to administer clinical trials and the risks involved. To paraphrase,"PPHM is ultimately responsible for problems arising from hiring 3rd party vendors". I took that to mean overall with the FDA but thats my opinion.
I think the talk of hostile or actions triggering a poison pill provision driving the price to high levels is ludicrous. The company is hunkered down with their legal team, the investigation of the fiasco, and evaluating where that leaves them with partnering discussions. IMO they had a strong hand in the early discussion,(pre discovery), but during DD by one of our potential partners the problem was unmasked. This changed the discussions dramatically and probably just put them on hold pending the answers that,we've been told, will be weeks away but not months.
The talk of our large stockholders, Ayer/Dart combining forces for a proxy fight is IMO off also. For all we know they could of sold out in the big flush on Monday....time will tell. Ayer did it once before last winter before the Russell rebalance.
On a positive note, as FTM and others have stated, this investigation might still yield "good data" without a complete do over. Time will cost PPHM if as likely the trial gets redone but if as FTM opines that the MOS is still intact the partner discussions will continue but PPHM will not be in the drivers seat as before. We'll just have to see how it plays out. It certainly is an uneasy time to be a stockholder but this stock has never been an easy hold.
I believe in the field of immunotherapy and my hopes for cancer patients and for us investors is that BAVI works. The volume and rebound yesterday tells me others feel the same way.
hang in there
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