Richard,
I think your impression that it changed to a non-exclusive license was correct. Now maybe someone else will license it. But, for whatever reason, KDUS ceased licensing it. Seems simple enough.
It's too bad the LivingChip angle didn't work out, but there are other technologies out there that could help KDUS miniaturize and automate its yeast technology, aren't there? I would think currently available technology could be adapted pretty quickly, and would prefer that KDUS do that rather than try to reinvent the wheel. Hopefully that's what this termination means: that they'll try new stuff to enhance their yeast platform, but not develop it, just buy it and tailor it.
I expect announcements concerning new technology partners.
The capital structure is refreshingly clean for a cheap company. The power structure is strange, though. They've got a reserve set up should they lose to SIBIA, so that's priced in.
But your observation that BMS is poised to sell keeps me from buying. Perhaps the date on that letter of agreement with BMS was a typo? Happens more often on 3s,4s,5s, and 144s, but it could happen here, too. Whatever, it doesn't really matter. My data shows BMS hasn't unloaded yet, but it's quite an overhang, isnt it? It's keeping me on the sidlines for a while.
Thanks for thinking out loud. Know that you do have an audience here.
Cheers, Tuck |
