May I also point out what a lock-up can do? Check out ISTA, which experienced its final lock-up date on February 17. Starting February 22 through April 20, no less than 743,460 shares were sold, with bulk dumped by March 9. If you remove the dumped shares from the ave daily volume, you can see that there is very little trading activity. (I didn't look, but I bet there was a big mezz round in '00.)
bigcharts.com
It's treatment--intraoccular injection of purified ovine hyaluranidase--for vitreous hemorrhage is in 2 multi-nation, multi-center trials. And though allergan isn't paying for any development expenses, it will market it globally, and the company will get 50/50 US profits and a ROW royalty. From what I can tell the doctors and clinics that are sponsoring the US trials are first rate.
If all goes well, the company claims commercialization by end of next year. I think this is impossible, since the P3 safety endpoints include adverse experiences and visual acuity through one year. Enrollment won't be complete until end of 2Q01. The company must think fast-track (which it has) is the same as priority (which I don't think it has).
Well, anyway, the point is the chart and the lock-up.
Wilder |
