Howard and all:
I made it to the stockholders' meeting today, and I must say I was impressed. If you can make it next year (if they hold the meeting in the same place), you really have to make an effort to attend. The Sheraton Grand is next to the Torrey Pines Golf Course, and has a spectacular view!
Now then, down to the meeting-the questions you wanted asked were asked by other people, so it was a common concern. 1) They don't expect FDA approval till after the FDA panel's meeting in July, and final yea or nay given some time in August, so, according to Mr Rastetter, C2B8 should be out (if approved) by the final quarter of the year (what they've been saying all along). 2) As to C2B8's profitability, its anyone's guess...no firm answer was given.
On the measures voted on by proxy, all were passed, EXCEPT the staggering of the terms of the Board of Directors. Apparently, that's a problem, because its necessary for incorporation in Delaware-sounds like another vote to me!
The shareholders who attended seemed to be "up" on the products in the works, and asked some good questions-like-what's the shelf life of C2B8, a question I was concerned about in case there's a hold up with FDA approval-Could be catastrophic if the inventory was short-dated. According to Mr Rastetter, C2B8 is in a frozen form until placed in vials for distribution, in this form, the product is stable for at least 5 years.
All in all, it was an informative meeting, and I'm just glad I went in order to meet the administration and research people. Mr Rastetter is very approachable, and all there, like Dr Grillo-Lopez (I think that's right) and Dr. Nabil Hanna gladly answered questions one-on-one after the meeting.
Again-glad I went-I hope to meet all you people at next year's meeting-its going to be a GREAT year! Roger |
